site.btaEuropean Investment Fund, Bulgarian Banks Sign Agreements to Finance SMEs Up to EUR 2 Bln
The European Investment Fund (EIF), part of the European Investment Bank Group, has signed guarantee agreements with four Bulgarian banks that will facilitate up to EUR 2 billion in financing to underpin the sustainable growth and competitiveness of small and medium enterprises (SMEs) and contribute to the green transformation of the Bulgarian economy, the EIF reported on Tuesday. Minister of Innovation and Growth Milena Stoycheva, whose Ministry hosted the event, said that the long-standing partnership with the EIF underlines the Government's commitment to improving Bulgaria's economic development.
The Innovation Ministry sees the financial instruments under the Recovery and Resilience Plan as the next step on the path to a stronger economy. These efforts are a key step towards a sustainable and prosperous future for Bulgaria, Stoycheva said. Her Ministry specified that the guarantee agreements total BGN 300 million.
In Stoycheva's words, these guarantees will not only encourage investment in climate action but will also strengthen the sustainability and competitiveness of Bulgarian businesses. She emphasized that since the beginning of the JEREMIE programme, the cooperation with the EIF has been a cornerstone in the transformation of Bulgaria's economy.
EIF's Vincent van Steensel praised the good relationship that the Fund has with Bulgarian authorities and banks, which contributed to the fast launching of financing under the guarantee instruments. These agreements will enable SMEs to expand and modernize their operations and contribute to a greener future, van Steensel added.
/RY/
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