EUR 20 mln for innovative Greek companies - EIF, ProCredit Bank sign agreement on loans for SMEs
The possibility of using guarantees provided by the EIF is advantageous to the bank as they enable it to offer additional loans under favourable terms.
It is the second agreement between the two institutions as part of the InnovFin fund. The first agreement - on funding for small and medium enterprises in seven southeast European countries including Serbia - was signed early this year. It enables the ProCredit Group to fund innovative companies from a budget totalling EUR 250 mln, through ProCredit banks in Albania, Bosnia-Herzegovina, Bulgaria, Macedonia, Moldova, Romania and Serbia.
EIF Executive Director Pier Luigi Gilibert told eKapija that he is satisfied with the signing of another SME guarantee agreement with the ProCredit Group - all for the benefit of innovative companies.
Asked about interest in countries where money from the InnovFin fund is already available to businesspeople and the amount of funds approved so far, Gilibert said that it is still early to talk about this since the agreement is relatively new.
- Judging by the conversation with the partners at ProCredit Bank, we believe that there is a sufficient interest among companies that will see all of the funds approved over the next two years, Gilibert said.
The objective of the InnovFin SME guarantee agreement is to encourage banks or other financial institutions to give loans to SMEs and small companies with medium market capitalisation (companies with under 500 employees) that need investments and/or business capital for research, development and innovation activities. The transaction has been made possible by the European Union through Horizon 2020 financial instruments.
Most Important News
11.03.2024. | Healthcare
Are Marketing Experts Reading Our Minds? – eKapija Investigates: What Neuromarketing Is and How Much It Is Used in Serbia
11.03.2024. | Construction, Transport
Tender for Continuation of Construction of Patrijarha Pavla Blvd Stopped – Contractors Demanding Price Higher Than Estimated
11.03.2024. | Construction, Transport
11.03.2024. | Construction, IT, Telecommunications
Auction for 5G Network by End-Year, Minister Announces
11.03.2024. | Construction, IT, Telecommunications
18.03.2024. | Industry, Construction, Transport
Japanese Company Starts Building Factory for Production of Electric Motor Parts in Indjija – Investment of JFE Shoji Worth EUR 50 Million
18.03.2024. | Industry, Construction, Transport
17.01.2024. | Industry, Healthcare
Ceremony of Opening of Centers of Excellence in Kragujevac Planned for Spring – Official Beginning of Operations in June
17.01.2024. | Industry, Healthcare
18.03.2024. | Construction, Transport
Plan for Vozd Karadjordje Road Published – Route 163 km Long with Three Tunnels, 130 Bridges and 21 Interchanges Planned
18.03.2024. | Construction, Transport