What we do
Equity products
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
Pan-European Venture Capital Fund(s)-of-Funds programme
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
Debt products
AGRI Guarantee Facility
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
EREM debt products
Single EU Debt Financial Instrument
COSME - Loan Guarantee Facility
InnovFin SME Guarantee Facility
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
Baltic Innovation Fund (BIF)
Competitiveness Fund-of-Funds for SMEs in Romania
Regional Fund-of-Funds Romania
La Financière Région Réunion
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
Dutch Venture Initiative (DVI-II)
Dutch Growth Co-Investment Programme
European Recovery Programme (ERP)
ERP-EIF Co-Investment Growth Facility
ESIF Fund-of-Funds Czech Republic
ESIF Fund-of-Funds Greece
The Silesia EIF Fund of Funds
EstFund
FOSTER TPE-PME Occitanie
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
JEREMIE
LfA-EIF Facility
Luxembourg Future Fund (LFF)
Mezzanine 'Fund of Fund' for Germany (MDD)
Polish Growth Fund of Funds (PGFF)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
The EIB Group Risk Enhancement Mandate (EREM)
Western Balkans Enterprise Development & Innovation Facility II (WB EDIF II)

Investment Plan for Europe: EIF and Raiffeisenbank (Bulgaria) sign EUR 35m InnovFin deal for Bulgarian companies

  •  
    Date: 01 February 2016
The European Investment Fund (EIF) and Raiffeisenbank (Bulgaria) EAD, a subsidiary of Raiffeisen Bank International AG, have signed a guarantee agreement to increase lending to innovative small and medium-sized enterprises (SMEs) and small mid-caps in Bulgaria. This transaction benefits from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe.

The new agreement will allow Raiffeisenbank (Bulgaria) to provide EUR 35m of loans to innovative companies in Bulgaria over the next 2 years. The loans will be enabled by an EIF guarantee under the “EU InnovFin finance for Innovators” initiative with financial backing from the European Commission's Horizon 2020 programme. The agreement will make it possible for Raiffeisenbank (Bulgaria) to offer innovative companies additional financing at favourable conditions.

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

EIF Chief Executive, Pier Luigi Gilibert commented: “The signature with Raiffeisenbank (Bulgaria) demonstrates our commitment to rolling out the EFSI programme rapidly. By boosting finance for innovative companies through the InnovFin SME Guarantee product we can provide effective and timely support to Bulgarian businesses to help them develop and strengthen new products and services”.

Oliver Rögl, CEO of Raiffeisenbank (Bulgaria) commented: “We are very happy to participate in this programme, which is another sign of our good cooperation with the European financial institutions. Thanks to it we will further expand our support to small and medium sized companies and prove again that we are a trustful partner of the Bulgarian business”.

This is the first InnovFin transaction in Bulgaria signed thanks to EFSI support. The deal reflects the EIB Group’s commitment to respond swiftly to calls from Member States, the European Commission and the European Parliament for a rapid launch of concrete initiatives under EFSI, accelerating lending and guaranteeing transactions capable of boosting jobs and growth in the EU.

About the European Investment Fund

The European Investment Fund's (EIF) is part of the European Investment Bank group. Its central mission is to support Europe's micro, small and medium-sized businesses by helping them to access finance. EIF designs and develops both venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth and employment.

About Raiffeisenbank (Bulgaria)

Raiffeisenbank (Bulgaria) EAD (www.rbb.bg) was established in 1994. The bank is a subsidiary of Raiffeisen Bank International AG (RBI).

RBI regards Austria, where it is a leading corporate and investment bank, as well as Central and Eastern Europe (CEE) as its home market. 15 markets of the region are covered by subsidiary banks. Additionally, the Group comprises numerous other financial service providers, for instance in the fields of leasing, asset management, as well as mergers and acquisitions.

In total, more than 52,700 employees service 14.8 million customers through approximately 2,800 business outlets, the great majority of which are located in CEE.

About the Investment Plan for Europe

Investment Plan for Europe

About InnovFin

InnovFin

About Horizon2020

http://ec.europa.eu/programmes/horizon2020/en

Press contacts:

EIF: David Yormesor
Tel.: +352 42 66 88 346, e-mail: d.yormesor@eif.org

Raiffeisenbank (Bulgaria):  Bojidar Gyurov, Communications Department

Tel.: +359 2 919 85 535, e-mail: press.pr@raiffeisen.bg

European Commission: Siobhán Millbright

Tel.:+ 32 229 57361, e-mail: Siobhan.millbright@ec.europa.eu


 
 

Copyright ©

 European Investment Fund 2017 – The European Investment Fund is not responsible for the content of external internet sites.