January 31 (SeeNews) - Bulgaria's First Investment Bank (Fibank) [BUL:5F4] said on Wednesday it has signed a guarantee agreement with the National Guarantee Fund (NGF) for loans to small and medium-sized enterprises under the fund's COSME 2017 guarantee scheme.
NGF will provide 50% of the guarantee for each loan, Fibank said in a statement.
The term of a loan under the scheme can be up to 10 years, with the maximum amount set at 1.5 million euro ($1.9 million).
The NGF's COSME 2017 guarantee scheme, financed under the EU programme for Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME), aims to improve SMEs' access to financing and support efficient investments.
A total of 330 SMEs are expected to benefit from the guarantee scheme, according to the statement.
($ = 0.8034 euro)
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