IFC to invest €15mn in BlackPeak SEE Growth Equity Fund to boost access to capital for SMEs

By bne IntelliNews June 22, 2021

The World Bank’s International Financial Corporation (IFC) said it will invest up to €15mn in the Southeast Europe-active BlackPeak SEE Growth Equity Fund (BlackPeak II) to support access to growth capital for small and medium-sized enterprises in the SEE region.

The private equity investment should help companies across the region expand operations and boost productivity, which would lead to more jobs and faster economic recovery.

BlackPeak II aims to raise up to €120mn and intends to invest in small and medium sized companies (SMEs) in Southeast Europe, primarily in Bulgaria, Romania, Serbia, Croatia and Slovenia.

Investments will be focused on export-oriented companies with unique products or services and those operating in a range of areas, including information technology and software, niche manufacturing, business services, health care, consumer, and retail.

In addition to providing capital, BlackPeak II will help the companies to implement IFC’s environmental and social policies and promote corporate governance through board seats and positions on key management committees.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Bulgaria's BACB to acquire 99.94% of Tokuda Bank

The Bulgarian-American Credit Bank said on April 16 it has agreed to acquire 99.94% of local Tokuda Bank from Japan-based Tokushukai Incorporated. The two banks are among the smallest in Bulgaria ... more

bne IntelliNews Southeast Europe Outlook 2024

This Southeast Europe Outlook 2024 has been prepared by bne IntelliNews as part of a series of annual reviews providing updates on the geopolitical, macroeconomic and commercial state of ... more

EBRD 2023: EBRD, EU and ILX to co-operate to boost private-sector finance in Emerging Europe

The European Bank for Reconstruction and Development (EBRD), the European Union, and ILX Management, an emerging market asset manager, have joined forces to enhance private-sector finance in Emerging ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    7 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    7 days ago
  4. Don't mention the "D" word - Ukraine
    4 days ago
  5. UBN: The US Needs to Wake Up
    5 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    25 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    29 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    27 days ago
  5. Saudi Arabia to scale back plans for Neom city
    14 days ago

Reports

Dismiss