site.btaEUR 385 Million to be Available to SMEs under Operational Programme

EUR 385 Million to be Available to SMEs under Operational Programme

Sofia, November 21 (BTA) - The first guarantee agreements under the Initiative for Small- and Medium-sized Enterprises Operational Programme have been signed between the European Investment Fund and five Bulgarian banks, the Economy Ministry said in a press release Monday.

The agreements will improve the access to financing of more than 4,000 Bulgarian SMEs, micro-enterprises and start-ups through bank loans with lower collaterals and interest rates.

The five guarantee mechanisms will generate 385 million euro in financing to the beneficiaries, which amounts to two thirds of the budget of the operational programme. The agreements were signed just six months after the launching of the programme.