UniCredit Bulbank gets EUR 50 million loan to boost SMEs
18 May 2009
Bulgarian UniCredit Bulbank has secured a EUR 50 million loan from the European Bank for Reconstruction and Development (EBRD) in a bid to finance small and medium-sized enterprises (SMEs) with turnover lower than EUR 50 million.
“The loan will provide a flow of finance to Bulgaria’s real economy at a time of scarce alternative commercial funding,” said UniCredit Bulbank.
James Hyslop EBRD Director for Bulgaria pointed out that the project was an important step towards giving opportunities to SMEs for long-term investments.
Earlier in the month, UniCredit secured a EUR 432.4 million loan from the EBRD in a bid to finance SMEs in Central and Eastern Europe (CEE).
“EBRD and Unicredit are making a joint effort to tackle the impact of the global economic crisis on the region providing medium and long-term debt and equity financing through UniCredit subsidiaries in support of SMEs, lease finance and energy efficiency projects,” EBRD said in a statement.
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