KfW and Slovenian promotional bank SID banka agree global loans to promote Slovenian SMEs

• A total of EUR 100 million to support small and medium-sized enterprises in Slovenia
• Eighth global loan since 1999

SID banka has concluded another long-term global loan agreement with the German promotional bank KfW. The loan, amounting to EUR 100 million, will be used in particular to finance investments by micro, small and medium-sized enterprises as well as mid-cap enterprises (hereinafter SMEs).

SID banka has had a successful partnership with KfW for many years, both in the procurement of favourable long-term funds for Slovenian SMEs as well as in strengthening cooperation in overarching areas of promotional banking and the exchange of best practices to support the Slovenian economy. The first global loan amounting to EUR 20 million to finance the export activities of SMEs was successfully placed back in 1999 and was also the first loan to SID banka from a foreign partner.

Katharina Herrmann, Member of the KfW Executive Board, said: "The new global loan with SID banka is an example of the successful cooperation model between the European promotional banks. The challenges of sustainable transformation do not stop at national borders. Pooling resources and skills as well as exchanging experiences with our European partners are important factors in overcoming these challenges. I am all the more pleased about the continuation and strengthening of our cooperation with SID banka."

SID Banka President Borut Jamnik also took the opportunity to make a statement: "The excellent long-term cooperation with the German promotional bank KfW, through which SID Banka has raised EUR 300 million over 24 years, has not only provided financial resources but also valuable experience in the exchange of best practices in promotional banking. Slovenian companies have benefited from lower borrowing costs and other advantages, constant availability of funds, simple documentation and broad geographic coverage. This is testament once again to how SID banka promotes the growth and development of Slovenian companies and accelerates the competitiveness of the Slovenian economy by using favourable international funding.