United Bulgarian Bank Received a Tranche of EUR 115 Million

A week after Raiffeisenbank announced a new tranche of EUR 43 million to finance innovative businesses under contract with the European Investment Fund, a second agreement was also signed by United Bulgarian Bank (UBB) under the InnovFin program. UBB received an additional EUR 115 million, which will target small and medium-sized enterprises. With this, the program for business promotion in Bulgaria continues with even greater capacity, Capital reported.

It is a practice to add an additional fund from the bank so that the total amount increases. InnovFin tools make it easier for small and medium-sized enterprises and it is possible for them to get lower interest rates, longer return times, and reduced collateral requirements, with each case being considered individually.

The previous contract with EIF under the InnovFin program of Cibank and CSOB, which are part of the KBC Group, was for EUR 65 million. After the Belgian group acquired UBB and Cibank, the investment for innovative companies increased.

In addition to the InnovFin loans, UBB has over 1,800 loans for a total amount of over BGN 300 million under the COSME program.

Petya Petrova

Petya Petrova is a journalist, believer, and traveler.

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