EUR 35 M of Loans to be Provided to Bulgarian SMEs under Juncker Plan

Politics » BULGARIA IN EU | February 3, 2016, Wednesday // 08:34
Bulgaria: EUR 35 M of Loans to be Provided to Bulgarian SMEs under Juncker Plan

The European Investment Fund (EIF) and Raiffeisenbank Bulgaria, a subsidiary of Raiffeisen Bank International signed a guarantee agreement to increase lending to innovative SMEs and small mid-caps in Bulgaria.

The transaction benefits from the support of the European Fund for Strategic Investments (EFSI), which constitutes the heart of the Investment Plan for Europe.

The agreement will allow Raiffeisenbank to provide EUR 35 M of loans to innovative companies over the next two years.

The loans will be enabled by an EIF guarantee under the “EU InnovFin finance for Innovators” initiative with the funding coming from the European Commission's Horizon 2020 programme.

The agreement will enable Raiffeisenbank to offer innovative companies additional financing at favourable conditions.

European Commission Vice-President Kristalina Georgieva reminded that this is the second agreement reached in less than six months through which Bulgarian SMEs will benefit under the Juncker Plan.

In October last year, EIF and CIBANK signed an agreement to provide EUR 100 M to 1000 SMEs in Bulgaria

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Bulgaria in EU » Be a reporter: Write and send your article
Tags: Bulgaria, EU, European Commission, investment plan, EIF, Raiffeisenbank, loan, lending, EFSI, Kristalina Georgieva, SMEs, Juncker Plan
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria