The European Investment Bank (EIB) granted two new loans in Bulgaria:
– a €20m loan to Raiffeisen Leasing, for investments in small and medium-sized companies (the second tranche of a €50m loan)
– and a €18m loan to the global technology company Software Group – EIB’s first transaction with venture debt features in Bulgaria and backed by a guarantee from the European Fund for Strategic Investments (EFSI), a key component of the Investment Plan for Europe.
The loan agreement with Raiffeisen Leasing Bulgaria will support projects by some 300 Bulgarian SMEs and at least 8,000 jobs in the country. According to Raiffeisen, the new credit line will provide financing for a wide scope of companies in the agriculture, manufacturing, transport and logistics sectors and will help them increase their competitiveness.
The €18m loan to Software Group will facilitate the execution of the company’s R&D strategy and strengthen its global reach. Software Group is a global technology company helping financial service providers digitalise their business and successfully go through the process of digital transformation. According to the official statement of the company, in the next three years, Software Group will focus on developing new technologies, platforms and products in the fields of insurance, factoring and the Internet of Things (IoT).