On 24 November 2017, the Ministry of Economic Development and Technology and SID Bank signed a financing agreement, under which the Fund of Funds was created. That fund is intended for the use of European cohesion funds. The aforementioned ministry appointed SID Bank as manager of the Fund of Funds, into which €253 million will be paid from European cohesion funds that are available to Slovenia within the 2014–2020 financial framework until 2023 for the purpose of financing development and entrepreneurship.
The purpose of the fund created as such is the promotion and financing of sustainable economic growth and development, investments in innovation and current operations through debt and equity financing focused on four areas: research, development and innovation, small and medium-sized enterprises, energy efficiency and urban development.
SID bank eases access to commercial bank's financing for SMEs through Fund of funds portfolio guarantees
Small and medium enterprises can from now on receive loans with SID bank’s guarantee in total amount of EUR 100 million directly at participating commercial banks-Nova Ljubljanska banka, Delavska...