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EUR 820 Million for SMEs as EIF and ProCredit Double Support

The European Investment Fund (EIF) and ProCredit Group are providing an additional EUR 450 million to innovative small and medium-sized companies (SMEs). This brings a total of EUR 820 million to companies in eleven countries.

 

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News

EUR 820 Million for SMEs as EIF and ProCredit Double Support
The European Investment Fund (EIF) and ProCredit Group are providing an additional EUR 450 million to innovative small and medium-sized companies (SMEs). This brings a total of EUR 820 million to companies in eleven countries. The EIF-backed financing is now available through ProCredit banks and targets companies using new technologies and...
Bank Windhoek ESME mentor program
One in five people in Nambia are employed in the SME sector and contribute over 12 percent to the gross domestic product. Bank Windhoek has experienced that in addition to financing, the major need of start-ups and small and medium businesses is mentoring. Mentorship guides SMEs on how to run a successful and sustainable business. As an SME...
UK Government, Five Big Banks Sign SME Finance Deal
The UK cabinet has agreed to support SME financing in an effort to support export-oriented industries. Five major British banks (Barclays, HSBC, Lloyds Banking Group, Royal Bank of Scotland and Santander) have partnered on the deal to provide more finance options to export-oriented, allowing the UK to boost export volumes, create new jobs and spur...
China SMEs Face Shrinking Profits, Increased Rates
Business activity in China’s SME sector weakened for the third straight month in June to hit the lowest in 16 months, a Standard Chartered survey tracking more than 600 Chinese SMEs found. Unemployment has increased and SME firms are expected to become unprofitable this year. It has become difficult for smaller businesses lacking strong collateral...
S. Korea SME Lending Surges $8B
For the first time in history the amount of SME loans from nonbank lenders has surpassed the 90 trillion won mark, according to Bank of Korea. South Korean nonbank financial institutions' lending to smaller firms surged nearly 10 trillion won ($8.8 billion) in the first four months of the year amid tighter government control on household loans...
Romania implements SME Initiative
The SME Initiative in Romania, seeks to provide new financing for small and medium enterprises (SMEs) across the country. Five Romanian banks have signed on to the initiative, which is managed by the EIB Group (European Investment Bank and European Investment Fund), the Government of Romania and the European Commission. Raiffeisen Bank, ProCredit...
$ 11 million will support women entrepreneurs
Kazakhstan small and women-led businesses are getting a financial boost from two organizations. The European Bank for Reconstruction and Development (EBRD) will extend a financial package of U.S. $11 million which comprises a U.S. $4.4 million loan for local micro, small and medium-sized enterprises (MSMEs). A U.S. $6.6 million loan under the...
Mohammad Azaqeer, Syrian Refugee receives SME Loan
In the last 12 years, the growing global community of 1.6 million lenders has crowdfunded nearly $1 billion in loans to 2.4 million entrepreneurs in 82 countries. Two former Syrian business owners received SME loans through Kiva, an online platform for crowdfunding loans to small-scale entrepreneurs around the world. With that financial support,...
La Federación Latinoamericana de Bancos, FELABAN, y La Corporación Financiera Internacional, IFC, firmaron convenio de Cooperación
La Federación Latinoamericana de Bancos, FELABAN, con su Presidenta Doctora María Mercedes Cuellar y su Secretario General Dr. Giorgio Trettenero Castro y la Corporación Financiera Internacional, IFC, miembro del Grupo del Banco Mundial y su representante Sr. Ary Naïm, Gerente del IFC, firmaron un Memorando de entendimiento, para realizar...
UN General Assembly creates International Day for small, medium-sized enterprises
Recognizing the importance of micro-, small- and medium-sized enterprises in achieving the new global development goals, the United Nations General Assembly today designated 27 June as International Day for those actors. In a resolution adopted without a vote, the 193-member body also invited all stakeholders, including Member States, UN entities...