Raiffeisenbank (Bulgaria) has fully utilized a credit facility extended by Germany's Kredtitanstalt fur Wiederaufbau (KfB) under the scheme for the funding of small and medium-sized enterprises (SME) with the support of Council of Europe Development Bank.

Raiffeisenbank used the 15 mln euro credit facility to extend funding to investment projects of SMEs and self-employed people, the bank told Profit.bg.

This is the fourth additional credit facility extended by KfW in addition to credit facility extended in 2004. A total of 569 investment projects with a total value of 19.9 mln euros have been funded so far. A total of 500 jobs have also been created.

Raiffeisenbank is among the leading banks in Bulgaria terms of funding of SMEs. The total value of such loans in Bulgaria amounted to 1.63 bln leva in the first quarter of 2008, up by 64.62% year on year.