EBRD Mulls Providing 150 Mln Euro Loan to Bulgarian Banks for SME Lending

EBRD Mulls Providing 150 Mln Euro Loan to Bulgarian Banks for SME Lending

The European Bank for Reconstruction and Development (EBRD) said it is considering extending a 150 million euro ($200.8 million) credit line to commercial banks in Bulgaria for on-lending to local small and medium-sized enterprises (SMEs).

The credit line will be extended for energy efficiency and small renewable energy sub-projects, undertaken by Bulgarian SMEs, the EBRD said in a statement published on its website.

These include investments in machinery, equipment, systems and processes for energy savings as well as projects involving purchase and installation of equipment, systems and processes for renewable energy sources.

The credit line is part of the EU-funded operational programme Development of the Competitiveness of the Bulgarian Economy 2007-2013 under which approximately 200 million euro have been earmarked for promotion of energy efficiency and renewable energy investments.

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