The Council of Europe Development Bank (CEDB) and Raiffeisenbank - Bulgaria signed Ђ20 million framework agreement for financing small- and medium-sized enterprises (SMEs).
The candidacy of Raiffeisenbank-Bulgaria for a Ђ20 million credit line was approved by the Administrative Council of the Council of Europe Development Bank at the end of November, 2003.
The funds will be used for financing investment projects in a bid to create new jobs and boost the development of small- and medium-sized enterprises (SMEs).
The Council of Europe Development Bank will provide up to 50 per cent of the projects financings, the rest will be provided by Raiffeisenbank - Bulgaria. It will be granted at favourable interest rates to SMEs with up to Ђ75 million assets and 500 employees, which work in different economic sectors. The credit line will be absorbed in three tranches.
Source: Novinite
