EIB approves new financing for SMEs in Bulgaria, four other countries

The total financing package for the five countries, to be managed in partnership with local banks, amounts to 560 million euro ($660.5 million), the EIB said in a statement on Wednesday.

The bank also said its board approved financing for a research and development project in Bulgaria under the Investment Plan for Europe. The name of the project was not provided in the statement.

Financing for eleven projects approved by the EIB board will be backed by the Investment Plan for Europe and support overall investment totaling EUR 1.6 billion in fifteen EU countries, the statement reads.

The European Commission's Investment Plan for Europe, the so-called Juncker Plan, focuses on boosting European investments to create jobs and growth by making smarter use of new and existing financial resources, removing obstacles to investment and providing visibility and technical assistance to investment projects.

($ = 0.8477 euro)