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Bulgariaʼs FoF providing extra EUR 21.5 mln of anti-crisis support to SMEs

The Fund of Funds (FoF) in Bulgaria said on Tuesday that it is providing an additional funding of BGN 42 million (EUR 21.5 million) intended for liquidity support to local small and medium-sized enterprises (SMEs) affected by the coronavirus crisis, according to a report by SeeNews.

The anti-crisis financing is already available on the market, the FoF said in a statement. SMEs can access the additional financing via three equity investment funds - Innovation Capital Fund, Vitosha Venture Partners Fund, and Morningside Hill, under favorable conditions, without the need to raise private capital outside the fund managerʼs participation, according to the statement.

Earlier this year, FoF launched a BGN 158 million loan guarantee instrument in support of local SMEs, the financing for which is being provided through the reallocation of funds from EUʼs operational program Innovations and Competitiveness 2014-2020.