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| Slovakia and central-European region to receive millions from EU |
| Bratislava, 14.03.2018 |
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| A new special fund founded by the European Investment Bank is expected to increase capital investments for SMEs in central Europe.
Small and medium-sized enterprises (SMEs) are expected to receive millions of euros via a new fund, the Pravda daily wrote on March 13.
The Central Europe Fund of Funds (CEFoF) is a €80.3-million initiative created by the European Investment Fund (EIF) in co-operation with the International Investment Fund and the governments and national agencies of participating countries, i.e. Austria, the Czech Republic, Slovakia, Hungary and Slovenia. Small and medium-sized companies account for 90 percent of all companies in Slovakia and employ around two thirds of all citizens. Most of them are unable to move to another level and show no growth due to a lack of money. Banks consider them risky and these companies find it difficult to get loans from banks and even if they succeed, they must deal with high interests. The fund-of-funds is expected to increase the capital investments of SMEs in the central-European region, the Hospodárske Noviny daily wrote.
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Address : Euro-Brew Ltd., Hlboká 22, 917 01 Trnava, Slovakia
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