New aid to boost the post-Covid recovery of the European economy, safeguard jobs and provide the necessary liquidity for European SMEs. The new partnership between the European Investment Fund e UniCredit thanks to the support of the European Guarantee Fund.
In detail, the European Investment Fund will make €700 million available to UniCredit in guarantees, enabling the bank to provide up to €1 billion in financing to small and medium-sized enterprises in Bulgaria, Slovakia, Slovenia and Croatia for accelerate the economic recovery from the Covid pandemic. The guarantees come from the European Guarantee Fund, a nearly €25 billion guarantee facility set up by the EIB Group in 2020.
The breakdown of the warranty agreement is as follows: Bulgaria (up to 185 million euros), Slovakia (up to 310 million euros), Slovenia (up to 80 million euros) e Croatia (up to 325 million euros). The remaining volume of the portfolio will be allocated among the four countries based on observed demand.
UniCredit group companies in these four countries, including banks and leasing companies, will offer loans and other financial products to SMEs on more favorable terms, including lower interest rates, longer grace periods, lower collateral requirements or longer maturities.
