Certificate of Appreciation presented to Yordan Naydenov in appreciation of Mr. Naydenov’s contribution to Doing Business 2012: Doing Business in a More Transparent World, a co-publication of The World Bank and the International Finance Corporation.
Archive for October, 2012
Certificate of Appreciation awarded to BOYANOV & Co., Attorneys at law in recognition of their outstanding service to Catholic Relief Services for divestiture and localisation legal services in Bulgaria.
BOYANOV & Co. Advised the EIF on the Amendment of the Framework and Funding Agreements and the Application of EUR 150 Million through the JEREMIE Holding Fund StructureTuesday, October 16th, 2012
Bulgarian small and medium-sized enterprises (SMEs) will get additional EUR 150 million (USD 194.4 million) under the Joint European Resources for Micro to Medium Enterprises (JEREMIE) plan, the Ministry of Economy, Energy and Tourism announced.
The funds will be available to Bulgarian companies from the first quarter of 2013 to the end of 2015. The loans, with terms of up to 10 years, will be disbursed through Bulgarian commercial banks that will provide 50% co-financing. This will increase the available resources to EUR 300 million. The lenders that are to take part in the initiative will be chosen by the European Investment Fund (EIF) – the risk financing arm of the European Investment Bank. The part of the loans provided directly from the JEREMIE initiative will carry no interest rate, while the co-financing will carry market interest rates.
EIF’s central mission is to support Europe’s SMEs by helping them access finance. EIF designs and develops venture capital and guarantees instruments which specifically target this market segment.
BOYANOV & Co. advised the EIF in relation to the Amendment of the Framework and Funding Agreements (ratified on 2 October 2012) and the application of the increased funding of EUR 150 million through the JEREMIE Holding Fund Structure. BOYANOV & Co. provides on-going advice on the development and implementation in Bulgaria of the EIF Funded Risk Sharing Product and the setup of venture capital initiatives for SMEs.