BUSINESS BOOST IN THE CEE
Wednesday 14 October 2020
Recent initiatives are providing vital support to large and small business across the CEE region, demonstrating UniCredit's commitment to being #PartoftheSolution
In Romania, UniCredit has expanded its partnership with EIF, signing an agreement with the EU Programme for Employment and Social Innovation (EaSI) covering a total risk sharing capacity of €10 million. The EaSI guarantee, which provides grants to micro-enterprises for up to €25,000, in Romania is the fourth of its kind and adds to previous partnerships at UniCredit Bank Serbia, Zagrebacka Banka and UniCredit Leasing Croatia.
In Bulgaria and Bosnia & Herzegovina, UniCredit has developed two partnerships with local authorities. The first, between UniCredit Bulbank and the Bulgarian Development Bank, helps companies affected by the Covid-19 pandemic. UniCredit Bulbank will provide loans of up to €300,000 to cover new working capital financing as well as existing investment and working capital loans, with the government guaranteeing up to 80 per cent of the loan.
The second agreement, signed by UniCredit Bank Banja Luka, supports companies in Bosnia & Herzegovina affected by the Covid-19 pandemic. The program will allow the bank to supply SMEs with liquidity, working capital and investment, with UniCredit Bank Banja Luka guaranteeing a maximum of 70 per cent of the loan granted to the companies.
UniCredit Bank Banja Luka has also signed an agreement with the European Bank for Reconstruction and Development (EBRD) to help local businesses with short term financing or liquidity support, up to €20 million.
By the end of August 2020, UniCredit Group had offered 32 different guarantee solutions in CEE markets, with more than €4.7 billion of risk sharing capacity. An important product is the InnovFin SME Guarantee, available until 31st December 2022 across nine CEE countries.
“All these initiatives will help companies across CEE manage liquidity issues resulting from the Covid-19 emergency,” said Gianfranco Bisagni and Niccolò Ubertalli, Co-CEOs Commercial Banking CEE. “At UniCredit, we’re ready to play our part and support entrepreneurs and the real economy.”