EBRD And UniCredit Bulbank Support FitSpo Nutrition’s Expansion In Bulgaria With Financing Focused On Energy-Efficient Production

The European Bank for Reconstruction and Development is supporting the growth of FitSpo Nutrition OOD, a Bulgarian producer of functional food products, through an unfunded risk-sharing partnership with UniCredit Bulbank. This cooperation aims to make it easier for the company to access long-term financing as it expands its operations. Under this arrangement, UniCredit Bulbank is providing €5.3 million in long-term funding to FitSpo. The EBRD will share the risk on up to €2.7 million of that amount through its Risk Sharing Facility. By taking on part of the lending risk, the Bank helps a fast-growing local business secure the financing it needs for larger, more strategic investments.

The funds will support FitSpo’s investment plan to upgrade and expand its production capabilities in Bulgaria. The project involves installing a fully automated production line, introducing a high-efficiency packaging line and adding new equipment across the facility. A major element of the plan is the development of an innovative green production facility designed to reduce environmental impact. Once these upgrades are completed, FitSpo expects its production capacity to double, enabling the company to serve growing demand both in Bulgaria and in its export markets.

FitSpo manufactures a wide range of functional food products, including protein bars, protein cookies, whey protein powder, flapjack bars and raw vegan balls sold under the FitSpo brand. Its products are available through major retail chains in Bulgaria, and the company also exports to several international markets. The project will receive additional support through a grant of up to €750,000 from the EBRD Green Innovation Programme, which is funded by the Horizon 2020. This grant is intended to help the company adopt advanced climate-friendly technologies and the most efficient equipment available. For a small but fast-expanding enterprise, such financial support plays a critical role in overcoming the high upfront costs associated with cutting-edge green investments.

The investment is expected to deliver clear environmental improvements. FitSpo aims to reduce energy use, cut carbon dioxide emissions and decrease overall waste. The project’s estimated impact includes annual energy savings of nearly 96,000 kWh and the avoidance of more than 40 tonnes of CO₂ emissions. Additional benefits include lower raw material consumption and reduced packaging waste, all contributing to a more efficient and environmentally responsible production process.

The EBRD’s Risk Sharing Facility is designed to support local companies by sharing lending risk with partner banks. This approach helps expand access to finance, encourages new investments and boosts the competitiveness of businesses across the Bank’s regions. It is a key instrument for supporting small and medium-sized enterprises, particularly those pursuing green or innovative projects. The EBRD has been active in Bulgaria since 1991 and, as of 31 January 2026, has invested €5 billion across 318 projects. Its work in the country focuses strongly on private-sector development, enhancing competitiveness and supporting the transition to a greener economy.