BELGRADE (Serbia), March 20 (SeeNews) – The European Investment Fund (EIF) plans to invite banks in Southeast Europe to apply for a fresh guarantee scheme for support of small and medium-sized enterprises by the end of this week, a European Investment Bank (EIB) official has said
"We hope that in the next two and a half years, 50 million euro ($56.8 million) of new loans will support those entrepreneurs who really help young people find jobs and reduce the brain drain and migration, and that simply more people stay in this region," the EIB head for the Western Balkans, Dubravka Negre, said in a video file posted on the website of Serbian public broadcaster RTS earlier this week.
The EIF covers part of the risks of commercial banks, so that they can finance entrepreneurs at lower interest rates and longer maturities, Negre said.
"We invite banks to follow our calls, as more such programmes will be made available in the upcoming period."
EIF is part of the EIB group and its central mission is to support Europe's micro, small and medium-sized businesses by helping them access finance. The investment fund designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment.
($ = 0.880935 euro)