Juncker Plan supports micro-enterprises in Bulgaria and a biotech company in Poland

The Juncker Plan’s European Fund for Strategic Investments (EFSI) is backing financing agreements in Bulgaria and Poland. The European Investment Fund (EIF) has signed the first microfinance guarantee agreement in Bulgaria with JOBS MFI with a total value of BGN 10 million (approx. €5.1 million) under the EU programme for Employment and Social Innovation (EaSI). This agreement will see around 320 micro-enterprises in various sectors benefit from loans, focusing on young entrepreneurs, women, artisans and small farmers. The European Investment Bank (EIB) has agreed to lend €30 million to Mabion to finance its growth plans. Mabion is a Polish biotech company focused on the development and manufacturing of medicine to treat certain types of blood cancer, such as lymphoma, and rheumatoid arthritis. Mabion will use the Juncker Plan-backed financing for a wide-ranging research and development programme, conducting clinical trials, as well as expanding its manufacturing capacities with state-of-the-art equipment. The company expects to employ 96 additional staff. Commenting on the agreement in Bulgaria, Marianne Thyssen, Commissioner for Employment, Social Affairs, Skills and Labour Mobility, said: “I am delighted to see the first Guarantee agreement under the EU programme for Employment and Social Innovation in Bulgaria come to fruition. Thanks to EU backing under said programme, around 320 micro-enterprises across Bulgaria will have enhanced access to finance. This is a prime example of the European Pillar of Social Rights in action, supporting employment and equal opportunities for all, including women and young entrepreneurs in rural areas who face difficulties in accessing finance to start up and grow their business.” Press releases are available here. As of October 2019, the Juncker Plan has mobilised €439.4 billion of additional investment, including €2.4 billion in Bulgaria and €20.9 billion in Poland. The Plan is currently supporting more than one million start-ups and small and medium businesses across Europe. Juncker Plan-backed investments have increased EU gross domestic product by 0.9% and added 1.1 million jobs compared to the baseline scenario. By 2022, the Juncker Plan will have increased EU GDP by 1.8% and added 1.7 million jobs.