EBRD to Share Societe Generale Expressbank's Exposure in Loans Extended to Bulgarian Enterprises

EBRD to Share Societe Generale Expressbank's Exposure in Loans Extended to Bulgarian Enterprises

Strengthening the competitiveness of Bulgarian companies through improved access to finance, the European Bank for Reconstruction and Development (EBRD) and Bulgaria's Societe Generale Expressbank AD (SGEB) are joining forces under a risk-sharing agreement, the EBRD said in a press release on Wednesday.
The Risk Sharing Framework (RSF) is one of the three core financing frameworks of the EBRD's Small Business Initiative, the strategic programme dedicated to supporting and developing the Bank's SME clients. It is designed to allow the EBRD to share partner banks' exposures to local enterprises via either funded or unfunded risk participation.
Under this new RSF in Bulgaria, the EBRD will share risk in individual eligible loans extended by SGEB to local enterprises. In turn, the new instrument will allow SGEB to meet the financial needs of its clients in a more efficient way.
SGEB is a long-standing client of the EBRD in Bulgaria with a successful track record of lending to local companies, which accounts for about two-thirds of its gross loan book. It is the first Bulgarian and the first EU member state lender to enter into a RSF risk participation agreement with the EBRD.
 
 
BTA
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