site.btaEBRD Provides EUR 20 Mln Loan to Bulgarian Copper Manufacturer Sofia Med

The European Bank for Reconstruction and Development (EBRD) is strengthening its presence in the corporate banking market in Bulgaria through a loan of EUR 20 million to the Bulgarian copper products manufacturer Sofia Med, the bank announced on Monday. The deal benefits from an EU guarantee under the InvestEU programme and is the first for the EBRD in Bulgaria to link sustainability indicators to pricing.

The EBRD pointed out that Bulgaria is working to accelerate the transition to a green economy, and copper is a critically important raw material for this process, as it is needed for electrification, renewable energy infrastructure and electromobility. They add that the loan will promote copper recycling, with a focus on increasing the use of secondary recycled content and improving water efficiency.

InvestEU is an initiative of the European Union aimed at supporting strategic investments in sustainable infrastructure, research, innovation and digitalization, small and medium-sized enterprises, as well as in social investment and skills. It provides a guarantee mechanism to unlock financing, focusing on projects that promote long-term growth and sustainability.