The European Bank for Reconstruction and Development (EBRD) has approved a partnership with ProCredit Bank Bulgaria (PCBB) to provide a EUR 14 million guarantee for green energy projects in Bulgaria and Greece. This collaboration, part of the InvestEU Green Capped Portfolio Guarantee Framework, will enable PCBB to extend its green lending capacity, focusing on sustainable energy investments.
The guarantee, funded by the European Union through the InvestEU Fund, aims to cover a new portfolio of loans that will finance eco-friendly projects in both countries. The initiative will help bridge the gap in funding for sustainable energy efforts and enhance PCBB’s ability to support small and medium-sized enterprises (SMEs) focused on green initiatives.
The project is set to drive energy savings and reduce carbon emissions, with at least 125% of the EBRD guarantee allocated to qualifying green projects. It also strengthens PCBB’s financial resilience, allowing the bank to expand its lending capacity by optimizing its capital base.
The total cost of the project is EUR 50 million, with PCBB also benefiting from technical assistance to ensure high-performance standards in climate-related reporting, monitoring, and sustainable energy solutions.
PCBB, a key player in Bulgaria’s SME finance sector and a subsidiary of ProCredit Holding, will manage the environmental and social risks of the project, ensuring compliance with EBRD’s Performance Requirements and national regulations.
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