Bulgarian businesses will benefit from better access to finance under an unfunded risk-sharing framework of up to €75 million provided by the EBRD to UniCredit Bulbank (UCB), the country’s largest bank.

The EBRD will guarantee up to 65 per cent of each individual sub-loan provided by UniCredit Bulbank to eligible clients. This is the second risk sharing facility launched by EBRD in Bulgaria, a further step towards strengthening the partnership with UCB as well as fostering growth and competiveness of companies in the country.

The Risk Sharing Framework (RSF) is one of the three core financing frameworks of the EBRD’s Small Business Initiative, a programme dedicated to supporting and developing local private companies in the economies where it invests. RSF is designed to allow the EBRD to share partner banks’ exposures to local enterprises through either funded or unfunded risk participation.

UCB has been a long-standing and strong EBRD partner in a number of EBRD's programmes supporting SMEs and investments in sustainable energy and acting as an active co-financing bank since 2001. The bank has distinguished itself as a leading provider of corporate and investment banking services in Bulgaria, and brings with it the considerable expertise of its parent group UniCredit  - a simple, successful pan-European Commercial Bank, with a fully plugged in CIB.

The RSF cooperation will support the bank’s strategy for continued sustainable growth over the coming years.

Bolstering the competitiveness of Bulgarian enterprises and supporting financial sector intermediation through risk sharing products are key priorities for the EBRD in the country. As one of the largest institutional investors in Bulgaria, the EBRD has invested nearly €3.9 billion in 253 projects in the country, with the majority in the private sector.

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Additional media information:

Victoria Blajeva, tel +359 (0) 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch

Beatris Nikolova, tel +359 (0) 2 9232 528, cfbusjt/ojlpmpwbAvojdsfejuhspvq/ch

Ekaterina Ancheva, tel +359 894 518 193 , flbufsjob/bodifwbAvojdsfejuhspvq/ch