35 Million Euros of Loans to be Provided to Bulgarian SMEs under Juncker Plan

35 Million Euros 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 35 million euros 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 100 million euros to 1000 SMEs in Bulgaria.

Sofia News Agency

Previous Next
Close
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.