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FIs - supporting the economy growth!

MORE SYSTEMATIC USE OF EU BACKED FINANCIAL INSTRUMENTS 17 th October 2018, Sofia. FIs - supporting the economy growth!. Dr. Kiril Velitchkov Director European Projects and Financial Institutions, UBB, Bulgaria Manager of KBC Group European Financial Instruments Competence Center

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FIs - supporting the economy growth!

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  1. MORE SYSTEMATIC USE OF EU BACKED FINANCIAL INSTRUMENTS 17th October 2018, Sofia FIs - supporting the economy growth! Dr. Kiril Velitchkov Director European Projects and Financial Institutions, UBB, Bulgaria Manager of KBC Group European Financial Instruments Competence Center kiril.velitchkov@ubb.bg; +359 878 369 102

  2. КВС in Bulgaria • Belgium, Bulgaria, The Czech Republic, Slovakia, Hungary, Ireland • more than 40 000 employees • over 11 m. customers • 275 BEUR assets • the largest investor in Bulgaria - 1.3 BEUR • the largest bank-insurance group • 3rd large bank on the market • KBC Sustainability Strategy

  3. FINANCIAL INSTRUMENTS – SUPPORTING INVESTMENTS • IMPACT • on SMEs • reducedcollaterals • reducedinterest • riskier deals financed • on BANKS • credit risk reduction • effective recovery • capital relief • UBB - 33 FIs applied; • 47% of the SME portfolio (ex-CIBANK) covered • EIF, NGF, MGF; EIB, EBRD, CEDB, IFC, BDB; FMFIB

  4. EFSI – COSME (2016) • The 1stJuncker’s plan operation in Bulgaria • 100 MEUR (2016)+100 MEUR (2017) +… • 1800 loans • 150 MEUR • continues…

  5. INNOVFIN EFSI – INNOVFIN 35MEUR; extended with 115MEUR!

  6. URBAN DEVELOPMENT FUNDS (2018) • Public tender; Consortium • Demanding application • preferential long-term funding and risk sharing for projects linked to sustainable urban development • Clear link to Sustainability • A new type of FI that is expect to be used widely after 2020 11/19

  7. LESSONS LEARNED • Visible benefits for the business • Need for guarantee instruments • Building of capacity • Additional simplification • Further increase post 2020

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