MGFSMES has received a prestigious award for helping small- and medium-sized businesses in the capital

The Municipal Guarantee Fund for Small and Medium-Sized Enterprises (MGFSME) at Sofia Municipality has received an award for its active contribution to the support of small and medium-sized enterprises in Sofia.

Under the auspices of the Bulgarian Presidency of the EU Council, the award was presented at an official ceremony during the Balkan SME Conference held on 7 June 2018 in Sofia. Over 200 Bulgarian SMEs and more than 150 entrepreneurs from Romania, Greece, Turkey, Serbia, Macedonia, Montenegro, Bosnia and Herzegovina, Kosovo, Albania and Italy participated at the forum.

Sofia Municipality and MGFSME received the special congratulations of David Carro, President of the European Small Business Alliance (ESBA), a pan-European organization with more than 1.2 million members from 36 countries.

“I would like to thank the United Business Clubs as well as the co-organizers of the Executive Agency for Promotion of Small and Medium-Sized Enterprises and the Bulgarian Investment Agency for recognizing the results brought by the active actions of Sofia Municipality in support of small and medium-sized businesses,” said Irina Yordanova, Chairwoman of the Management Board of the Fund upon receiving the prize.

So far, MGFSME has helped 625 small and medium-sized enterprises in Sofia, and has contributed to lending of credits for BGN 117 million. In order to stimulate innovation and start-ups, in May this year, MGFSME launched an entirely new guarantee scheme “Financing Innovative Start-ups Program”.