Provision of a EUR 50 million loan to ProCredit Bank (Bulgaria) ("PCBB").
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.
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.
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.
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.
26 Todor Aleksandrov Blvd. Sofia 1303
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