Fibank signed a new agreement with National Guarantee Fund

On January 6, 2016 Fibank (First Investment Bank AD) signed a new agreement with National Guarantee Fund EAD (NGF) for the issuance of a portfolio guarantee of 20 million BGN for securing the Bank's loans to micro, small and medium-sized enterprises in Bulgaria.

The agreement aims to provide much easier access to financing of Bulgarian companies at attractive conditions, such as reduced interest rates on loans and eased collateral conditions.

Loans for which guarantees will be provided by the NGF may be in the BGN and EUR, and will be granted both to meet the needs of the enterprises of working capital and for implementation of investment projects, including under all EU operational programs for program period 2014-2020. The issuance of bank guarantees will be also admissible under this agreement.

The deadline for implementing the guarantee scheme is until the end of March 2017.

This is the seventh agreement between First Investment Bank AD and NGF, which further strengthens the Bank's continued commitment to the development of Bulgarian business. With the entry into force of this guarantee scheme First Investment Bank AD will add to its portfolio of financial instruments another measure to support the Bulgarian micro, small and medium-sized enterprises to increase their competitiveness and sustainability.