The European Investment Fund (EIF) signed today, 14.07.2011, at an official ceremony at Sheraton Sofia Hotel Balkan five guarantee agreements with Bulgarian banks under the Joint European Resources for Micro to Medium Enterprises (JEREMIE) initiative.
Under the said agreements the JEREMIE Initiative will support the selected banks to provide up to EUR 400 million of new loans to approximately 3,400 Bulgarian small and medium enterprises.
CIBank, ProCredit, Raiffeisenbank, United Bulgarian Bank and UniCredit Bulbank will offer financing at preferential conditions to a broad range of SMEs across Bulgaria looking to invest or expand their business.
The First Loss Portfolio Guarantees represent the first operations under the JEREMIE initiative in Bulgaria and are expected to lead the series of successful, specially designed incentive products for SMEs in Bulgaria.
Borislav Boyanov & Co. advised EIF throughout the whole process of implementation of JEREMIE initiative in Bulgaria – from the establishment of the Holding Fund Structure in Bulgaria to the launch of the first innovative financial products.