EIF, Raiffeisenbank sign €100mn loan guarantee scheme for Bulgarian SMEs

EIF, Raiffeisenbank sign €100mn loan guarantee scheme for Bulgarian SMEs
By bne IntelliNews January 14, 2021

The European Investment Fund (EIF) and Raiffeisenbank Bulgaria signed a €100mn agreement for guarantees under the JEREMIE programme for financing of local small and medium-sized enterprises, the bank said in a statement on January 14.

Thanks to the agreement, the bank will continue supporting Bulgarian companies with less than 500 employees, it said in the statement.

“Thanks to our excellent partnership with the European Investment Fund we have supported 4,000 projects of Bulgarian small end medium-sized companies with more than €450mn,” Dobromir Dobrec, deputy head of Raiffeisenbank Bulgaria’s managing council, said in the statement.

Within the next three years, the bank will secure banking products related to financing under more favourable conditions. These include funding for working capital, overdrafts, factoring, bank guarantees and other products.

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