EIF, UniCredit Boost Support for Innovative SMEs in CEE

EIF, UniCredit Boost Support for Innovative SMEs in CEE

The European Investment Fund said on Monday it has signed an agreement with UniCredit banking group to increase support for innovative small and medium-sized firms and small mid-caps in eight countries, including five in Southeast Europe, to 500 million euro. The new agreement will allow UniCredit to offer, both via its banks and leasing units, additional financing worth 340 million euro to innovative companies in Bosnia, Bulgaria, Croatia, the Czech Republic, Slovakia, Hungary, Romania and Serbia, the European Investment Fund (EIF) said in a press release. This new support under InnovFin SME guarantee facility will add up to the initially signed portfolio of 160 million euro, taking total financing to which   innovative SMEs across the eight countries will have access, to half a billion euro, EIF added.

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