New fund under OP Competitiveness to provide 300M euro for SMEs

New fund under OP Competitiveness to provide 300M euro for SMEs

A new guarantee fund is to be set up under operational programme Competitiveness, with 150 million euro allocated by the programme for subsidising small and medium-sized enterprises (SMEs). The money will be managed by banks, which will have to provide a further 150 million euro, Bulgarian Deputy Economy Minister Evgeni Angelov said. Angelov made the announcement during the Mergers, Acquisitions and Private Equity conference organised by Capital.The scheme will operate as follows: a bank lends, for example, 100 000 leva to a company. Under the terms of the agreement, half the amount will be a direct grant from OP Competitiveness and the remainder a bank loan which must be extended at an interest rate 50 per cent below market rates."The aim of the mechanism is to have part of the SME programme funds redirected to subsidising companies and to ease lending terms by lowering interest rates," Angelov said, adding that many of the scheme parameters were yet to be discussed. (Source: The Sofia Echo)

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.