Fibank First Investment Bank executed an agreement with the German investment bank KfW for a five-year credit line in relation to financing small and middle seized business in Bulgaria. The loan amounts to 10 million euros. The credit is granted by KfW following a detailed research on FIB’s financial results and after an approval by the EU commission. Financing also comes from the Council of Europe Development bank. Under that credit line, FIB will support granting long-term investment loans for SMEs by the EU. The maximum amount possible for a company to acquire in relation to the project is 250 thousand Euro.
With this credit line FIB shall render a long term financing for different investment projects including purchase of technologies, machinery and equipment, as well as building-up or renewal of production bases. For credits under that program, applications accepted in each of the Bank’s offices by filing a standard credit request.