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    Reference: 20220679
    Release date: 30 November 2022

    Promoter – Financial Intermediary




    Operation supporting mid-caps in Bulgaria in sectors which are in line with the EIB's long-term mission.

    Additionality and Impact

    This Linked risk sharing operation is designed to provide support to mid-caps in order to foster access to liquidity and contribute to long-term economic growth in Bulgaria. The operation addresses the underlying market failure in access to finance faced by Final Beneficiaries due to information asymmetries and credit considerations on the side of the Financial Intermediaries. Given the economic uncertainty exacerbated by supply chain constraints, inflation, rising interest rates, energy security constraints and the lasting effects of the pandemic the proposed risk sharing operation may alleviate some of the pressures faced by the real economy. The EIB contribution enables UniCredit Bulbank to reach beneficiaries that are not covered by any of the existing guarantee schemes currently available in Bulgaria. The EIB contribution rests on assuming credit risks and thereby allowing the Financial Intermediary to engage into transactions that it would not have engaged in without the EIB's intervention due to for example capital or credit risk related limitations. The final benficiaries will benefit from the above additional lending made available by UniCredit Bulbank at typically beneficial terms, in the form of reduced interest rates, longer maturities and/or lower collateral requirements.


    Linked risk sharing operation in support of Bulgarian mid-caps in sectors that are in line with the EIB's long-term mission (innovation, environment and indirect support for small and medium-sized enterprises).


    Proposed EIB finance (Approximate amount)

    EUR 100 million

    Total cost (Approximate amount)

    EUR 280 million

    Environmental aspects

    Final beneficiaries will be requested to comply with applicable national and EU environment and procurement legislation, as appropriate.


    Final beneficiaries will be requested to comply with applicable national and EU environment and procurement legislation, as appropriate.


    Signed - 22/12/2022

    Under appraisal
    7 December 2022
    22 December 2022


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Bulgaria Credit lines