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EIF, SID Bank co-finance 100 mln euro programme to back Slovenian SMEs, midcaps

EIF, SID Bank co-finance 100 mln euro programme to back Slovenian SMEs, midcaps Author: Xiquinho Silva Licence: CC by-SA 2.0

LJUBLJANA (Slovenia), May 14 (SeeNews) – The European Investment Fund (EIF) and Slovenia’s SID Bank are providing a 100 million euro ($112 million) loan to a joint equity investment programme to support the access of Slovenian small and medium enterprises and midcaps to growth and expansion equity capital, the EIF said.

EIF and state-owned SID Bank invest 50 million euro each on the same terms and conditions for the Slovene equity growth investment programme (SEGIP), the EIF said in a press release on Monday, following a presentation of the programme.  

The programme is guaranteed by the European Fund for Strategic Investments (EFSI), the core of the Investment Plan for Europe,” EIF added.

SEGIP was launched in November 2017 with the objectives to support Slovenian SMEs and midcaps to attract international private equity investment to the country and to build local capacity by supporting emerging fund managers which focus a significant part of their investments into Slovene companies.

“The European Commission supports European businesses through various programs and today's support from EFSI or the so-called Juncker Plan will enable even stronger growth for Slovene innovative and fast-growing companies,” said Zoran Stancic, head of the European Commission representation in Slovenia.

($ = 0.89007 euro)