Summary of the activity of JEREMIE in Bulgaria in 2015.

Key highlights of 2015:

  • Circa EUR 840 million of loan and equity investment portfolio, translating into a leverage ratio of 2.4 for each EUR of public funds contributed through the JEREMIE Initiative;
  • More than 9000 individual SME financing operations supported;
  • Absorption of JHF funds close to 100%;
  • The disbursement pace under the First Loss Portfolio Guarantee Instrument (FLPG) led to an utilisation level of approximately 94% as of 31st of December 2015. A total of 5,010 loans for approximately EUR 340 million were extended under the product;
  • The activity under the Product Risk Sharing Loan (PRSL) further accelerated with 3,814 loans being extended for a total of EUR 474 million or 100% utilisation;
  • 180 innovative start-ups supported on aggregate by the two accelerator & seed funds; more than 600 new jobs have been created in government priority sectors such as ICT, Software & Hardware, Health Tech and Engineering;
  • 20 risk capital deals in early and expansion stage deals made by the Risk Capital and two Co-Investment Funds, 7 of which were made only in the first half of 2015 and 8 in the second half.

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