EIF, Four Bulgarian Banks To Back SMEs with 260 Mln Euro Loans

EIF, Four Bulgarian Banks To Back SMEs with 260 Mln Euro Loans

The European Investment Fund said it signed agreements with four Bulgarian banks allowing them to lend up to 260 million euro ($338.6 million) to small and medium-sized enterprises (SMEs) in the country.

The four banks will double the initial budgetary allocation of 130 million euro and channel an amount equal to approximately 260 million euro to Bulgarian SMEs in loans with low interest rates.

"With the JEREMIE funding, the four banks will be able to extend loans with reduced interest rates of at least 50% to over 3,300 SMEs across Bulgaria looking to strengthen or expand their businesses," the EIF said. The agreements were signed with Allianz Bank, First Investment Bank, ProCredit Bank and Societe Generale Expressbank as part of the European Union's Joint European Resources for Micro to Medium Enterprises (JEREMIE) initiative.

The EIF is currently assessing the possibility of additional agreements under this instrument.

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.