The European Investment Fund (EIF) and Bulgaria’s DSK Bank have signed an agreement that will make available €15m worth of loans to small and medium-sized enterprises (SMEs) in Bulgaria.
In a statement the European Commission said: ‘The EIF is providing a guarantee that will enable DSK Bank to provide loans on advantageous terms to SMEs which would otherwise not have been able to access finance.’
The agreement, concluded as part of the commission’s InnovFin initiative, will be financed through the European Fund for Strategic Investments (EFSI).
InnovFin is a joint initiative launched by the European Investment Bank (EIB) Group in co-operation with the commission under Horizon 2020.
The EIF is part of the EIB Group. Its central mission is to support Europe’s SMEs by helping them to access finance. The EIB, the EU’s long-term lending institution, is owned by the EU member states.