Extension to the EBRD-EU regional finance facility for ten EU accession countries (Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovak Republic and Slovenia). The facility will provide term loans and equity finance to financial intermediaries to facilitate the expansion of lending to small and medium-sized enterprises (SMEs).
The project aims to support the growth and development of private sector SMEs by creating access to term loans or equity. It will also establish new business financing practices in financial intermediaries so that these acquire more experience in dealing with SMEs and create a revenue stream.
Medium-term funds to SMEs are only available in rare cases; the weakness of the financial sector is even more conspicuous at the level of very small enterprises. The project will help to create employment opportunities in the private sector.
Financing will be channelled through intermediaries in ten accession countries that can demonstrate a satisfactory level of financial viability, a capable management team and commitment to small and medium-sized enterprises (SMEs) in their lending/investment policy.
The EBRD is allocating an additional EUR 75 million to the EUR 50 million already provided for the Loan Window; the Bank is also providing EUR 25 million to an Equity Window.
EUR 200 million, including EUR 50 million contributed by the European Union. Maximum sub-loan amounts shall be up to EUR 125,000 (exceptionally, EUR 250,000) and maximum amounts for equity participations shall be EUR 1 million.
Financial institutions included in the facility will be required to apply the EBRD’s Environmental Procedures for Financial Intermediaries to all loans and investments supported through the facility. In implementing these procedures, the financial intermediaries will assess potential environmental issues associated with client SMEs, which are required to comply, at a minimum, with local/national health, safety, environmental and public consultation requirements.
Up to EUR 12.5 million. The Technical cooperation funds (TCs) will be used to contribute to institution building within the financial sector of the 10 accession countries by providing training and technical assistance to banks in order to build long-term capability to provide SMEs with access to financing.
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