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Oct 01, 2019 09:57 EEST
October 1 (SeeNews) - The Black Sea Trade and Development Bank (BSTDB) and the European Investment Bank (EIB) will jointly provide over 100 million euro ($109 million) for new investment by small and medium-sized companies (SMEs) and medium capitalisation companies (mid caps) in Bulgaria, Romania and Greece, the BSTDB said.
The financing programme, funded 50/50 by the EIB and the BSTDB, will focus on supporting growth by agri-business, manufacturing, transport and renewable energy companies and marks the first business partnership between the two development banks, the BSTDB said in a statement last week.
You can download the 2023 Agriculture industry in Southeast Europe report here
The programme will be managed by the BSTDB, which received a 12-year EUR 50 million loan from the EIB and will extend the funding to companies in the three countries.
"Today’s historic 100 million euro agreement marks the first cooperation between the European Investment Bank and Black Sea Trade and Development Bank and we look forward to strengthening support for private sector growth across the region together in the years ahead," Andrew McDowell, EIB vice president, said in the statement.
($ = 0.9186 euro)
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