EIF, Raiffeisenbank Bulgaria Sign 43 Mln Euro Guarantee Deal for Innovative SMEs

EIF, Raiffeisenbank Bulgaria Sign 43 Mln Euro Guarantee Deal for Innovative SMEs

Raiffeisenbank Bulgaria said on Tuesday that it has signed a guarantee deal with the European Investment Fund (EIF), which will enable the Sofia-based lender to provide 43 million euro ($50 million) in loans to innovative small and medium-sized enterprises (SMEs) in the country. This is the second deal between Raiffeisenbank Bulgaria and the EIF under the InnovFin inititative, the Bulgarian lender said in a statement. In 2016, Raiffeisenbank Bulgaria and the EIF signed a 35 million euro guarantee deal under the same initiative. InnovFin is a joint initiative launched by the European Investment Bank (EIB), EIF and the European Commission, aimed at providing finance for research and innovation to entities that may otherwise struggle to access financing.($ = 0.8660 euro)

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