• EIF guarantees will help provide loans, documentary finance transactions and factoring transactions to SMEs and Small Mid-caps in Bulgaria with better terms and conditions.
• The Programme/ Facility is backed by JEREMIE initiative in Bulgaria.

The European Investment Fund (EIF) and Raiffeisenbank (Bulgaria) EAD have signed a guarantee agreement amounted EUR 100mn enabling the bank to enhance the support to small and medium-sized enterprises (SMEs) and small mid-caps in Bulgaria. The new agreement will allow Raiffeisenbank (Bulgaria) to provide lending products and trade finance products: Letter of Credit, Letter of guarantee, factoring, working capital financing and overdrafts at favorable conditions over the next 3 years.

The transaction(s) benefit(s) from support from the Documentary Finance Guarantee Facility, implemented by the European Investment Fund and funded by the Ministry of Economy of Republic of Bulgaria with national funds received as reflows from JEREMIE Initiative operations.

Dobromir Dobrev, Deputy CEO of Raiffeisenbank (Bulgaria) commented: “Thanks to our excellent cooperation with the EIF, to date we have supported 4 000 projects of Bulgarian small and medium-sized companies with more than €450 million. Now, we will extend our support to trade finance transactions and factoring for SMEs and Small Mid-caps. This agreement comes at a crucial time for the Bulgarian Business to overcome the consequences of Covid 19 pandemic.”