FIF - ProCredit Bank Bulgaria

Location:

Bulgaria

Project number:

49587

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

28 Feb 2018

Status:

Concept Reviewed

PSD disclosed:

27 Dec 2017

Project Description

Provision of a EUR 50 million loan to ProCredit Bank (Bulgaria) ("PCBB").

Project Objectives

PCBB will use the loan proceeds to extend loans to privately owned micro-, small- and medium sized enterprises ("MSMEs") in Bulgaria, to finance their working capital needs and investment projects.

Transition Impact

The loan will allow PCBB to expand its mid- and long-term lending to MSMEs. It will also foster MSMEs' competitiveness by increasing availability of financing.

The Client

PROCREDIT BANK BULGARIA EAD

PCBB was established in 2001 and is part of the international ProCredit Holding group, a network of SME focused banks. With total assets of EUR 950 million as at end-September 2017, the bank ranks 14th among 27 banks operating in the Bulgarian market.

EBRD Finance

EUR  50,000,000

Project Cost

EUR  50,000,000

Environmental and Social Summary

Categorised FI (2014 ESP). Environmental and Social Due Diligence undertaken by Bank's staff confirms PCBB's compliance with the EBRD's E&S risk management requirements and that PCBB's Human Resource and E&S Policy and Procedures are commensurate with the EBRD's Performance Requirements (PRs) 2, 4 and 9. The Client implements a group-wide Environmental and Social Management System in line with EBRD's requirements.

PCBB will be required to continue to comply with PRs 2, 4 and 9 and submit annual reports on its Environmental and Social performance to the Bank.

Technical Cooperation

None.

Company Contact

Head Office

contact@procreditbank.bg

+35928135708
+35928135110

www.procreditbank.bg

26 Todor Aleksandrov Blvd. Sofia 1303

 

 

 

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