The European Investment Fund (EIF) and Raiffeisenbank Bulgaria have agreed to increase funding for innovative Bulgarian SMEs. Supported by the European Fund for Strategic Investments (EFSI), the loan to Raiffeisenbank comes as part of Horizon 2020’s InnovFin initiative and will allow the Bulgarian branch of the international Raiffeisenbank to provide €35m of loans to innovative companies in the country over a two-year period.

Commission Vice-President for Budget and Human Resources Kristalina Georgieva said: “For the second time in less than half a year, Bulgaria taps into the guarantee provided under the Investment Plan, this time for €35m. This agreement is again for what matters the most – support for SMEs which create most of the new jobs in Europe. I commend this proactivity and wish all the success to the companies that will take advantage of this opportunity.”

The EIB (European Investment Bank) Group has here shown commitment and a swift response to calls from member states, the Commission and the European Parliament for the promotion and launch of initiatives under EFSI. Sustainable EU jobs, growth and innovation have been among the focal points of the Juncker Commission and the Horizon 2020 framework programme.

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