BAKU, Azerbaijan, December 11. The European Bank for Reconstruction and Development (EBRD) has teamed up with Eurobank Bulgaria AD (Postbank) to provide 135 million euros in guarantees under the EU’s InvestEU program, TurkicWorld reports.
This initiative will enable Postbank to extend 260 million euros in new loans to a wide range of businesses, from microenterprises to large companies, to finance green investments across various sectors.
The guarantees include both uncapped and capped portfolio risk covers, with first-loss protection and technical assistance under the InvestEU program. This partnership aims to support Bulgaria’s sustainable economic growth, particularly through financing for green projects led by SMEs and larger corporations.
EBRD’s Head of Bulgaria, Manuela Naessl, highlighted the importance of the collaboration in helping Bulgaria meet its energy and climate targets, contributing to the country's green transition. Postbank’s CEO, Petia Dimitrova, emphasized the bank's commitment to sustainability, marking a strategic step in enhancing its position as a leader in Bulgaria's financial market.
The projects financed will meet strict EBRD criteria for green economy transition, focusing on energy efficiency and CO2 emission reduction. Postbank is Bulgaria’s fourth-largest bank by assets, with a wide branch network and diverse clientele. The bank is part of the Eurobank Group, which has assets totaling 99.6 billion euros.
Meanwhile, EBRD has invested nearly 4.6 billion euros in climate-related projects in Bulgaria and is a key partner in the InvestEU program.
