site.btaEuropean Commission to Facilitate Easier Loan Access for EU States Near Ukraine, Russia and Belarus, Including Bulgaria

The European Commission announced that on Thursday it will launch a new initiative to provide easier access to loans for EU Member States bordering Russia, Belarus and Ukraine, to help them address challenges related to the war.

The initiative will support Bulgaria, Finland, Estonia, Latvia, Lithuania, Poland, Slovakia, Hungary and Romania. It will be implemented in cooperation with the European Investment Bank, the European Bank for Reconstruction and Development, the Nordic Investment Bank, the Council of Europe Development Bank and the national promotional banks of the nine countries concerned.

At least EUR 28 billion in private and public investment is expected to be mobilized in these regions.

According to the Commission, regions bordering Russia and Belarus are facing the most serious consequences of the military aggression against Ukraine and are suffering from significant trade disruptions, population decline due to border closures, and the effects of EU sanctions imposed on Russia.