The European Bank for Reconstruction and Development (EBRD) is making available two credit lines worth a total of €27.5m to Allianz Bank Bulgaria (ABB) for on-lending to small and medium sized enterprises (SMEs) and for financing energy efficiency and renewable energy projects.
The €20m SME credit line will be used to finance investments and working capital of SMEs operating in Bulgaria. The facility will allow ABB to develop an improved product offering and attract new clients.
The €7.5m Energy Efficiency line will finance energy efficiency and renewable energy projects implemented by businesses with the view to reduce their energy intensity and improve their competitiveness.
АBB, majority-owned by Germany’s Allianz Group, offers its banking services through a network of more than 110 branches and representative offices in the country.
The facility, part of the EBRD’s Energy Efficiency and Renewable Energy Credit Line Framework (EERECL) for Bulgaria, is complemented by grant funding from Kozloduy International Decommissioning Support Fund (KIDSF), which will be used for technical assistance to support both types of projects and for incentives for both the banks and businesses involved.