All agreed loans

Bulgaria. Bulgarian Development Bank

Date of loan: 15 Dec 2010
Country: Bulgaria
Customer: Bulgarian Development Bank
Amount in EUR: EUR 20 million
Maturity: 10 years
NACE sector / loan type: Loan programme
Business area: Financial institutions and SMEs

Environmental effect

This loan contributes to climate change mitigation: 70%

Project

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.

Sustainability summary

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.