site.btaEBRD Supports UniCredit Bulbank for EUR 100 Mln in Green Investment Loans

The European Bank for Reconstruction and Development (EBRD) will provide a portfolio guarantee of EUR 50 million under the European Commission's InvestEU Programme to allow UniCredit Bulbank to offer EUR 100 million in new loans for green investments, the Sofia-based lender reported on Wednesday. The loans will go towards energy efficiency and renewable energy in buildings, and sustainable transport projects.

An agreement to this effect has been signed between the two banks. The EBRD guarantee will be supported through partial first-loss risk coverage by the InvestEU Fund and additional technical cooperation under the programme, UniCredit Bulbank said.

According to the press release, the scheme will aid Bulgaria in its transition to a green economy and will help UniCredit Bulbank to strengthen its resilience through better capital management and release of lending capacity for additional sustainable financing.

Eligible projects must meet the EBRD's strict requirements for the green transition while focusing on raising energy efficiency and cutting carbon emissions.