Loans, partially guaranteed by the JEREMIE initiative under the Operational Programme "Development of the Competitiveness of the Bulgarian Economy 2007-2013"


JEREMIE (Joint European Resources for Micro to Medium Enterprises) is a joint initiative launched by the European Commission (Directorate-General Regional Policy) and the European Investment Bank (EIB) Group to improve access to finance for Micro, Small and Medium-sized Enterprises (SMEs) in the EU within the Structural Funds framework for the period 2007 – 2013. JEREMIE offers the EU Member States, through their national or regional Managing Authorities, the opportunity to use part of the resources made available from the EU Structural Funds and also national resources into Holding Funds. The JEREMIE Holding Fund provides finance to SMEs in a flexible, sustainable and innovative way, by providing equity, (micro) loans or guarantees financial instruments through selected local financial institutions acting as European Investment Fund (EIF) intermediaries.

JEREMIE aims at developing and fostering the role of entrepreneurship within the EU in order to meet the objectives of the Lisbon agenda and help EU Structural Funds to deliver greater benefits to the market by offering an alternative to grant instruments. 

In Bulgaria, the JEREMIE Holding Fund (JHF) is financed by the European Regional Development Fund (ERDF) and co-financed by 15% by the State Budget within the framework of the Operational Programme (OP) “Development of the Competitiveness of the Bulgarian Economy 2007 – 2013”. Under this OP, the Ministry of Economy, Energy and Tourism (MEET), has allocated contributions under the Priority Axis 3, including a national contribution, equal to EUR 199 million for the implementation of the JEREMIE Initiative aiming to improve the access to finance for Small and Medium-sized Enterprises (SMEs) through various financial engineering instruments.


United Bulgarian Bank is the leading intermediary of JEREMIE guaranteed loans in Bulgaria.

Since 2011 the bank has achieved:

  • more than 900 enterprises, receiving
  • over 1000 loans
  • on value of more than 160M BGN

Due to the use of UBB JEREMIE loans the Bulgarian enterprises:

  • achieved average 2% less interest rate
  • provided more than 100M BGN less collaterals
  • received financial stimulus of more than 16M BGN  

*all data are preliminary


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