UniCredit launches "UniCredit for CEE 2025", an umbrella, integrative framework with concrete financial solutions for account management and advice throughout Europe's Central and Eastern region, aimed at helping micro-enterprises and small businesses in the region to increase their productivity and competitiveness and to develop sustainable business models, through innovation and technology adoption, informs Agerpres.
According to a press release sent to AGERPRES on Tuesday, in partnership with more than 20 international and local institutions and authorities, more than 9,000 small businesses in CEE can receive financing of 2.3 billion euros within the "UniCredit for CEE 2025" initiative.
The advantages for clients include lower guarantee requirements, tangible benefits regarding the cost of financing, special account management conditions, mentoring, ESG advisory programs and much more, the bank states.
The initiative was announced during the Forum of Central and Eastern Europe, the emblematic event that annually brings together over 2000 investors, banks, intermediaries and top decision-makers from over 45 countries in Vienna.
During the CEE Forum, Teodora Petkova, Head of Central Europe and Eastern Europe, UniCredit, pointed out that the recent report "The Future of European Competitiveness: A Competitiveness Strategy for Europe" highlighted how Europe is lagging behind the U.S. and China in terms of it concerns innovation and productivity.
Through UniCredit for CEE 2024, the bank offered more accessible financing with international and local partners in the whole of Central and Eastern Europe in the amount of over 2 billion euros for more than 8300 micro and small company clients.
UniCredit macroeconomists point out that the region benefits from strong flows of FDI (foreign direct investment) and there is the prospect of their continued growth in the future, as supply chains shorten.
The lower productivity of CEE SMEs compared to larger enterprises can be offset by improved access to finance.
UniCredit is a pan-European commercial bank with a service offering in Italy, Germany and Central and Eastern Europe.