Eif Grants 200 Million Euro To The Business In Bulgaria

Bulgaria will sign an agreement with the European investment fund for the securing of a credit resource for the Bulgarian business worth 200 million euro.The official ceremony for signing the Framework and Financial agreement for implementation of the JEREMIE initiative between the government, represented by the minister of economy and energy Peter Dimitrov and the chief executive director of the European investment fund Richard Pelly will be held today in the Council of ministers' building.The deputy prime minister Meglena Plugchieva, the minister of finance Plamen Oresharski and the executive directors of the Bulgarian bank for development Dimiter Dimitrov, Angel Gekov and Sasho Chakalski from the Bulgarian side are all invited to take part in the event.From the European Commission the representative will be Dirk Aner - general director of "Regional policy" chief directorate at the European Commission. The signing of the agreements is related to the implementation of priority axis 3 "Financial resources for development of enterprises" under Functional program "Development of the competitiveness of the Bulgarian economy" 2007-2013.The program envisages the creation of specialized financial instruments as guarantee funds, funds for risk capital and funds for micro funding, helping the access of small and medium enterprises to capital for development in accessible and favourable conditions.The agreement will secure a credit resource of nearly 200 million euro of the Bulgarian business. After the government granted 250 million euro to the business through the Bulgarian bank for development, this is practically the second most important anti-crisis measure, which will secure accessible credit conditions.The agreement is a result of difficult negotiations, which the Bulgarian side leads more than a year. Consultations with the leadership of the Bulgarian parliament have been held in order in the shortest possible terms the agreement to be ratified.