EIF Secure JEREMIE Credit Source for Bulgaria Businesses

Finance | May 27, 2009, Wednesday // 15:08|  views

Bulgaria Economy Minister, Petar Dimitrov (R), shakes hands with CEO of the European investment fund Richard Pelly (L) at the official signing of the JEREMIE initiative. Photo by BGNES

The European Investment Fund (EIF) secured a credit resource for Bulgaria worth EUR 200 M on Wednesday.

The Framework and Financial agreement for implementation of the JEREMIE initiative between the Bulgaria government and the EIF has been signed Wednesday at an official ceremony in Sofia.

The funding was signed under the "Development of the competitiveness of the Bulgarian economy 2007-2013" program. The program envisages the creation of specialized financial instruments as guarantee funds, funds for risk capital and funds for micro funding, helping the access of small and medium enterprises to capital for development in accessible and favourable conditions.

After the Bulgarian government granted EUR 250 M for small to medium sized businesses via the Bulgarian Development Bank, this is the second largest anti-crisis measure to enhance crediting conditions.

 

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Tags: EIF, European Investment Fund, JEREMIE, European Commission

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