The HBOR reported on Tuesday that it had become a shareholder after responding to an invitation from that fund.
The fund's authorised capital amounts to two billion euros, and the European Investment Bank organised the sale of the fund's shares. HBOR has purchased three shares, and thus ensured benefits and advantages for participating in European banking initiatives in relation to small and medium-sized enterprise (SMEs).
"Through the leverage effect of its venture capital and guarantee instruments, the EIF is able to contribute to the development of SMEs in the EU Member States and the Candidate Countries. This contribution is in line with the Conclusions of the ECOFIN Council of 7 November 2000, which emphasised the new role of the EIF as the EU specialist financial institution for SMEs," the fund reported on its website.
The European Investment Fund is a public-private partnership whose tripartite share-holding includes the European Investment Bank (61.2%), the European Union represented by the European Commission (30%), and a number of European banks and financial institutions, including now HBOR (8.8%).