3 Apr 2020
EUR 400 million
|Date of agreement:||15 Dec 2010|
|Customer:||Bulgarian Development Bank|
|Amount in EUR:||EUR 20 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
This loan contributes to climate change mitigation: 70%
The 10-year-maturity loan programme totalling EUR 20 million has been provided for onlending to SME projects that comply with NIB's mandate, mainly in the production of renewable energy.
The Bulgarian Development Bank is a state-owned institution promoting the establishment of new SMEs and development of existing SMEs, as a step in increasing the competitiveness of Bulgarian companies in international markets.
The loan programme is expected to contribute to mitigating climate change as 70% of the loan programme's amount will be allocated to renewable energy projects, crowding out fossil fuel-based electricity generation. The focus will be on financing investments in electricity generation on photovoltaic cell plants and windmill parks as well as investments in small-scale hydropower plants.