The new credit line agreement was announced officially today by EIB and UniCredit Bulbank

The European Investment Bank (EIB) is lending EUR 50 million to UniCredit Bulbank AD to finance projects promoted by small and medium-sized enterprises and mid-cap companies in the area of agriculture and industry in Bulgaria.

The new credit line agreement was announced officially today by Mr Mihai Tanasescu, EIB Vice-President, Levon Hampartzoumian, CEO of UniCredit Bulbank AD and Andrea Casini, COO of UniCredit Bulbank AD.

Mr Mihai Tanasescu, EIB Vice-President stated: “I welcome very much that EIB funds will improve access of SMEs and midcap companies being active in the sectors of industry, services and agriculture in Bulgaria. The improved access of these companies to long term finance is vital for the development of the Bulgarian economy in terms of job creation and growth. Together with UniCredit Bulbank, a well-established EIB partner financial institution, the EIB is extending funds needed to accomplish priority projects fostering the competitiveness and diversification of the Bulgarian economy.”

On the topic of the credit line utilization Levon Hampartzoumian, CEO of UniCredit Bulbank, said that offering further opportunities to small and medium-sized enterprises under preferential conditions is vitally important for the development of the Bulgarian economy by fostering innovation and competitiveness in business.

Today is signed the first tranche of the loan to UniCredit Bulbank approved by the EIB totalling to EUR 100 million. A company can receive financing with the maximum amount of EUR 12.5 million, the loan repayment period ranging from 2 to 12 years.

This intermediated loan is being provided under the Joint IFI Action Plan for Growth in Central and South Eastern Europe, which is focused on providing better access to long-term finance for Europe's SMEs in order to mitigate the effects of the financial crisis. The funds will support growth by enhancing long-term competitiveness through increased availability of long-term credit.

This credit line is a continuation of the excellent cooperation of the EIB with UniCredit Bulbank. In the past, the EIB has provided six other intermediated loans to this financial intermediary bringing the amount of EIB credit lines granted to UniCredit Bulbank to EUR 200 million. The previous credit lines have been successfully allocated to the Bulgarian SMEs, who have benefited from improved interest rates and longer lending maturities.

Background

The European Investment Bank is the long-term lending institution of the European Union and is owned by the EU Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

UniCredit Bulbank

UniCredit Bulbank is the biggest Bulgarian bank with assets exceeding the amount of BGN 12.6 billion towards the end of December 2013. The bank services more than one million citizens and households, private clients, small and medium-sized enterprises, large national and international companies, etc.

More information for clients:

UniCredit Bulbank, Call Centre

Phone: 0700 1 84 84

More information for media:

UniCredit Bulbank, Identity & Communications Department

Viktoria Blajeva, Phone: + 359 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch

Ekaterina Ancheva, Phone: + 359 2 9264 963, flbufsjob/bodifwbAvojdsfejuhspvq/ch

Magdalena Ivanova, Phone: + 359 2 9232 528, nbhebmfob/jwbopwbAvojdsfejuhspvq/ch