BCCI organises an information day to present the JEREMIE initiative for financial assistance to Bulgarian companies

The JEREMIE initiative offers EU Member States the opportunity to use part of their EU Structural Funds to finance small and medium-sized enterprises (SMEs) in a flexible and innovative way through their national or regional Managing Authorities.

For that purpose, on 14^th July 2011, guarantee agreements were signed between the European Investment Fund and the representatives of five banks – UniCredit Bulbank, ProCredit Bank, CIBANK, UBB and Raiffeisenbank Bulgaria, which will serve the launch process of a guarantee fund under the JEREMIE initiative. Beside the guarantee fund, several types of funds for risk financing were agreed under the JEREMIE initiative to cover the financial needs of companies in all stages of their development.

Over BGN 150 million were allocated for the guarantee fund under the JEREMIE initiative. The sum will serve to guarantee preferential loans, which the selected banks will grant to SMEs in the country. Due to the guarantee, interest rates and collateral requirements will be lower. The financial scheme will allow Bulgarian SMEs to apply for over BGN 800 million of credit resources.

During the International Technical Fair in Plovdiv, the Innovation Council with BCCI will hold an information day to present the JEREMIE initiative and the financing opportunities it provides for Bulgarian companies.

The information day will take place on 28^th September 2011, at 11 o’clock in Pavilion No. 18.