corporate_banner_en

Bulgaria: EIB continues to support projects promoted by SMEs, midcaps and municipalities

Projects
Regions
European Union
Enlargement countries
Turkey
Iceland
Western Balkans
European Free Trade Association
Mediterranean Neighbourhood
FEMIP Overview
Supporting pan-Mediterranean initiatives
Financing & advice
FEMIP Loans
Private equity
Advisory & technical assistance
FEMIP Support Package
Procurement
How to apply
Trust Fund
Technical assistance
Private equity
Global dialogue
Partnerships
Organisation and staff
FEMIP Internship Programme
FAQ - FEMIP
EU Eastern Neighbours
Projects
Cooperation with other institutions and organisations
Financing facilities
Trust fund
Institutional framework
Applying for loans
Organisation and staff
Central Asia
Institutional framework
Cooperation with other institutions and organisations
Financing facilities
Technical assistance and grants
Applying for loans
Organisation and staff
Sub-Saharan Africa, Caribbean and Pacific
Funding and Financial Instruments
Applying for loans
Cooperation with partners
Investment Facility
Other initiatives
Activities
Asia and Latin America
Priorities
SMEs
Innovative options
Loans
Microfinance
EU partners for SMEs & mid-caps
Non-EU partners for SMEs & mid-caps
RDI support
Equity investment
Regional development
Climate Action
Urban & natural environment
Innovation
Skills and Jobs
Trans-European Networks
Transport
Energy
Project Cycle
Applying for a loan
Appraisal
Procurement
Monitoring
Projects to be Financed
Explanatory notes
Breakdown by region
European Union
EFTA countries
Enlargement Countries
Eastern Europe, Southern Caucasus and Russia
Mediterranean countries
Africa, Caribbean, Pacific countries + OCT
South Africa
Asia and Latin & Central America
Breakdown by sector
Projects Financed
Breakdown by region
European Union
EFTA countries
Enlargement Countries
Eastern Europe, Southern Caucasus and Russia
Mediterranean countries
Africa, Caribbean, Pacific countries + OCT
South Africa
Asia and Latin America
Breakdown by sector
Multi-criteria list
Operations Evaluation
Organisation and Programme
Programme
Methodology
Criteria
Rating scale
Process
Reports
Operations
Overview
Publications and reports
Cooperation and Coordination
ECG
European Financial Institutions
European Commission
Contacts

Bulgaria: EIB continues to support projects promoted by SMEs, midcaps and municipalities

  • Available in: bg de en fr
  •  Release date: 14 October 2011
  •  Reference: 2011-150-EN

The European Investment Bank (EIB) is lending EUR 30 million to CIBANK JSC, Bulgaria, to finance projects mounted by small and medium-sized enterprises (SMEs), midcap companies and municipalities in Bulgaria.

The EIB loan will co-finance projects contributing towards regional development and strengthening the competitiveness and productivity of SMEs and midcap companies in Bulgaria. The EIB funds will also support projects in the areas of industry and services, and will be coupled with grants from the European Commission (EC) and the Kozloduy International Decommissioning Support Fund (KIDSF).

Mr Wilhelm Molterer, EIB Vice-President responsible for Bulgaria, commented: “EIB funds will support projects contributing to growth and development that are implemented by SMEs and midcap companies. These sectors represent the backbone of the economy, create a significant amount of employment, especially new job opportunities and generate a substantial portion of GDP in Bulgaria”.

This loan is in line with the EIB’s priority of providing better access to long-term finance to Europe’s SMEs to help mitigate the effects of the financial crisis. To this end, the EIB is joining forces with well established financing institutions, like CIBank, that know the local market and have SMEs, midcap companies and municipalities as their customers.

This loan represents the continuation of the EIB’s successful cooperation with CIBank. The Bank has previously granted a EUR 25 million loan to CIBank providing intermediated financing for investment by SMEs.

Background:

The EIB is the long-term lending bank of the European Union. Its main task is to contribute towards the integration, balanced development and economic and social cohesion of the EU Member States. Besides supporting projects in the EU Member States, its lending activities also include financing investments in future Member States of the EU and EU partner countries.

The EIB raises substantial volumes of funds on the capital markets, which it lends on favourable terms to projects furthering EU policy objectives. It is the largest supranational borrower and its consistent AAA rating is underpinned by firm shareholder support, a strong capital base, excellent asset quality, conservative risk management and a sound funding strategy.


0



 Print
 Pdf
Copyright © European Investment Bank 2014
The European Investment Bank is not responsible for the content of external internet sites.

http://www.eib.org/projects/press/2011/2011-150-eib-continues-to-support-projects-promoted-by-smes-midcaps-and-municipalities-in-bulgaria.htm