EUR 800m for Innovative SMEs in SEE

EUR 800m for Innovative SMEs in SEE

Date: July 16th 2019

Author: Tanja Srnovršnik

Category: Startup

Topic: New technologies , Economy

The European Investment Bank (EIB) and ProCredit Group are providing EUR 800 million to innovative small and medium-sized companies (SMEs) under the European Fund for Strategic Investments (EFSI) and the InnovFin SME Guarantee Facility. The financing will target companies using new technologies and producing new products in one of the eleven countries where the facility is available (Albania, Bosnia and Herzegovina, Bulgaria, Georgia, Germany, Greece, Moldova, the Republic of North Macedonia, Romania, Serbia and Ukraine), said the European Commission on Monday.

“Two years after we announced EUR 820 million for SMEs in eleven countries, the European Investment Fund and ProCredit are doubling their financial support, meaning EUR 1.62 billion is now available in financing for small and medium-sized companies across these countries. This continued and increased level of support from the EU will make a tangible difference to thousands of people with innovative business ideas in need of financing, adding to the 2,000 SMEs that have already benefited from this scheme,” said Jyrki Katainen, the European Commission Vice-President responsible for Jobs, Growth, Investment and Competitiveness.

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