Brussels, 13/10/2015 (Agence Europe) - The European regional development fund (ERDF) will make €102 million available to Bulgarian small and medium-sized enterprises as part of Bulgaria's operational programme SME initiative, adopted by the European Commission on Tuesday 13 October.
The investment, in the form of bank guarantees, are expected to generate between €400 million and €600 million in new loans for SMEs as a result of the leverage effect on private investment. The SME initiative is part of a broader Commission initiative to encourage EU countries to double their use of European structural and investment funds channelled through financial instruments in 2014-2020, in line with the objectives of the Commission investment plan which seeks to mobilise €315 billion over three years with the aim of encouraging innovation and, thereby, competitiveness and economic growth.
“Bulgaria is now in the leading group of EU countries benefiting from this innovating tool”, said Regional Policy Commissioner Corina Cretu. She travelled to Bulgaria in June and told EUROPE of her satisfaction at the commitment of the country through the available financial instruments (see EUROPE 11340). (Original version in French by Pascal Hansens)