EIF, UniCredit double support to innovative SMEs in CEE

Int’l Relations

Photo by nitpicker/Shutterstock.com

The European Investment Fund (EIF) and Italian banking group UniCredit have agreed to double the InnovFin SME guarantee aimed at improving access to finance for innovative small- and medium-sized enterprises (SMEs) in nine countries of Central and Eastern Europe (CEE), EIF said.

The Headquarters of European Investment Fund in Luxembourg. Photo by nitpicker/Shutterstock.com 

“The operation signed today will increase the overall portfolio from EUR 500 million up to EUR 1 billion for the benefit of some 1,300 SMEs and small mid-caps,” EIF chief investment officer, Alessandro Tappi, said in a statement on January 15.

The new agreement will allow UniCredit’s nine banks and six leasing companies to offer an additional EUR 500 mln to innovative SMEs and small mid-caps in Bosnia, Bulgaria, Croatia, the Czech Republic, Hungary, Romania, Serbia, Slovakia and Slovenia, EIF explained.

The project benefits from EU’s framework program for research and innovation, Horizon 2020, and the European Fund for Strategic Investments (EFSI), the financial pillar of the European Commission’s Investment Plan for Europe.

In particular, the banks in Serbia and Bosnia and the leasing company in Serbia will be supported by a EIF guarantee backed under Horizon 2020, the EIF said.


Voluntary Pension Fund Contributions Climb 20% in Q1-Q3 Figures

Voluntary Pension Fund Contributions Climb 20% in Q1-Q3

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Higher Sugar Prices Raising Holiday Candy Costs Retail

Higher Sugar Prices Raising Holiday Candy Costs

Hungarian Tourism in Croatia Returning to Pre-pandemic Level... Tourism

Hungarian Tourism in Croatia Returning to Pre-pandemic Level...


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.