EIB and ProCredit Bank to support climate action projects in Bulgaria


In Bulgaria, the European Investment Bank has partnered with ProCredit Bank Bulgaria to finance renewable energy, energy efficiency, low carbon transport and waste management programmes.

EIB has provided ProCredit Bank Bulgaria with EUR15 million to support climate action projects implemented by small and medium-sized businesses or Bulgarian companies with fewer than 3 000 employees.

40% of the loan is dedicated to projects with a climate action component.

Lilyana Pavlova, Vice President of EIB, said: “Support to cohesion regions and the fight against climate change are strategic priorities of the EU bank.

“The EIB, in cooperation with our well-established partner ProCredit Bank, will sustain employment in Bulgaria, strengthen the competitiveness of the private sector and support the fight against climate change. Our joint efforts will stimulate sustainable growth and investments in Bulgaria, fostering economic convergence, increasing the number of qualified jobs and ultimately improving the living conditions of European citizens.”

“ProCredit Bank is a pioneer in offering specialised green and energy efficiency loans, including financing for renewable energy generation, and has devoted significant efforts to encouraging investments of this kind. By doing this we have accumulated in-house expertise and experience, and have positioned ourselves as the bank of choice for green loans – among both businesses and providers of funds,” said Reni Peycheva, Member of the Management Board and Executive Director of ProCredit Bank (Bulgaria). 

The signing of today’s contract reflects the shared principles and goals of both institutions, as well as our joint commitment to promoting growth and employment by supporting small and medium-sized enterprises.”

This is the third operation since the start of the EIB’s cooperation with ProCredit Bank in 2011.