BAKU, Azerbaijan, November 27. The European Bank for Reconstruction and Development (EBRD) has teamed up with Bulgaria’s UniCredit Bulbank to provide 50 million euros in guarantees under the European Union’s InvestEU programme, the bank said, Trend reports.
The guarantee is expected to unlock 100 million euros in new lending for green investments, including energy efficiency and renewable energy for buildings, as well as sustainable transport projects. It will be supported by partial first-loss coverage from the EU, with additional technical cooperation under the InvestEU programme.
“This agreement will allow one of our key partner banks in Bulgaria to scale up sustainable lending to the real economy, helping the country meet its energy and climate targets,” said Manuela Naessl, EBRD Head for Bulgaria.
UniCredit Bulbank CEO Tsvetanka Mincheva said the scheme represents “a significant milestone in our mission to accelerate the transition towards a sustainable economy,” enabling the bank to expand support for responsible and innovative investments.
The program will strengthen Bulgaria’s green transition, support the banking sector’s resilience, and help bridge the investment gap needed to meet national and EU energy and climate goals. Projects financed under the scheme will adhere to strict EBRD green transition criteria, focusing on reducing CO2 emissions and improving energy efficiency.
To date, the EBRD has invested nearly 5 billion euros in 315 projects in Bulgaria.