The European Bank for Reconstruction and Development (EBRD) announced on Friday (12 January) that it is providing a 60 million-euro loan to Bulgaria’s ProCredit Bank for clean energy projects in Bulgaria and Greece.
The loan is to be allocated for on-lending to projects in, among others, energy efficiency, renewable energy and climate resilience measures.
“We are pleased to be building on our successful track record with ProCredit Bank,” said Melis Ekmen Tabojer, EBRD Director for European Union Banks and Structured Finance. “Over the last few years, we have witnessed the devastating impacts of the climate crisis in Greece and Bulgaria, and we are confident that this loan, which prioritises green projects, will contribute to mitigating that impact, and accelerate the journey towards a sustainable future for both countries.”
Established in 2001 by an alliance of international investors, ProCredit Bank Bulgaria, now solely owned by German bank ProCredit Holding, focuses on small and medium-sized enterprises (SMEs).
“Our strategic partnership with the EBRD allows us to provide continuous, regular support to SMEs with appropriate financing solutions. The new loan agreement, together with our in-house expertise and experience, will help Bulgarian and Greek companies become more competitive and innovative in the context of today’s rapid-paced green transition,” said Rumyana Todorova, Member of the Management Board and Executive Director of ProCredit Bank.