EUR 110 million for small and medium-sized business
The European Investment Bank (EIB) issues EUR 110 million meant for SMEs, the Duma daily reports. UniCredit Bulbank receives the credit line to finance investment projects. EIB will allocate EUR 60 million to UniCredit Bulbank and the remaining EUR 50 million – to UniCredit Leasing.
The previous five credit lines amounted to a total of EUR 200 million provided to the bank and EUR 80 million to the leasing company, Michael O’Halloran, Head of Bulgaria, Romania, Cyprus Division at the EIB, commented.
Loans within the current credit line will be issued for a term of 2-10 years, for large infrastructure projects – up to 15 years, at a 0.5% lower interest rate.
The provision of additional opportunities for financing SMEs under preferential conditions is of extreme importance for the development of Bulgarian economy, Levon Hampartzoumian, CEO of UniCredit Bulbank, said.
Text and photo: www.focus-fen.net
(17.05.2013)