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    Référence: 20220086
    Date de publication: 25 octobre 2023

    Promoteur – Intermédiaire Financier

    UNITED BULGARIAN BANK AD

    Lieu

    Description

    The project consists in a Linked Risk-Sharing Operation to support Bulgarian small and medium sized enterprises (SMEs), mid-caps and large corporates.

    Additionality and Impact

    This Linked risk sharing operation is designed to provide support to mid-caps in order to foster their access to liquidity and contribute to the long-term economic growth in Bulgaria. The proposed operation is fully in line with the EU and the Bank's strategic objective to support uninterrupted access to finance for Mid-Caps through the provision of a fully delegated guarantee instrument. 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 and energy security constraints, the proposed risk sharing operation may alleviate some of the pressures faced by the real economy. The EIB contribution enables the United Bulgarian Bank to reach beneficiaries that are not covered by any of the existing guarantee schemes currently available to the Financial Intermediary. 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 capital or credit risk related limitations. The final beneficiaries will benefit from the above additional lending made available by United Bulgarian Bank at typically beneficial terms, in the form of reduced interest rates, longer maturities and/or lower collateral requirements.

    Objectifs

    The aim is to enhance access to finance to the final beneficiaries operating in EIB's eligible sectors such as innovation and environment.

    Secteur(s)

    Montant BEI envisagé (montant approximatif)

    EUR 75 million

    Coût total (montant approximatif)

    EUR 210 million

    Aspects environnementaux

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

    Passation des marchés

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

    Statut

    Signé - 22/12/2023

    Milestone
    À l'examen
    Approuvé
    Signé
    14 décembre 2023
    22 décembre 2023

    Clause de non-responsabilité

    Avant d’être approuvés par le Conseil d’administration et avant la signature des prêts correspondants, les projets font l’objet d’une instruction et de négociations. Par conséquent, les informations et données fournies sur cette page sont indicatives.
    Elles sont fournies à des fins de transparence uniquement et ne peuvent être considérées comme représentant la politique officielle de la BEI (voir également les notes explicatives).

    Mots-clés correspondants

    Bulgarie Lignes de crédit