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Investment Plan: microfinance, seed capital and business advice to be provided to micro-businesses and SMEs

The European Investment Advisory Hub (EIAH), the European Bank for Reconstruction and Development (EBRD) and the EU launched a new programme on 7 March committed to helping SMEs obtain advice for sustainable growth.

date:  15/03/2018

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The European Investment Advisory Hub (EIAH), the European Bank for Reconstruction and Development (EBRD) and the EU launched a new programme on 7 March committed to helping SMEs obtain advice for sustainable growth. The programme, which is part of the Investment Plan for Europe, will support at least 240 SMEs in Greece, Bulgaria and Romania with tailored business advice over the next two years. Meanwhile, the European Investment Fund (EIF) and Swedbank signed a microfinance agreement on 6 March that will provide up to EUR 123 million in financing to micro-businesses in Estonia, Latvia and Lithuania under the EU Programme for Employment and Social Innovation (EaSI). The deal also benefits from the support of the European Fund for Strategic Investments (EFSI), the core element of the Investment Plan for Europe. The European Investment Bank (EIB) signed a loan on 6 March of EUR 16 million with Valamar Riviera d.d, Croatia’s leading tourism company, to boost the country’s tourism sector. In other news, Trind Ventures closed a new EUR 21 million fund that will invest in early stage ICT companies in Estonia, Finland, Latvia, Lithuania and the rest of Central and Northern Europe. The EIF under the Juncker Plan is one of the three largest investors in the fund.