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- UniCredit Bulbank provides €5.3 million in financing to FitSpo Nutrition OOD
- EBRD shares risk on up to €2.7 million under its Risk Sharing Facility
- Project supported by the EBRD Green Innovation Programme, funded by Horizon 2020
The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of FitSpo Nutrition OOD, a Bulgarian producer of functional food products, through an unfunded risk‑sharing agreement with UniCredit Bulbank.
Under the transaction, UniCredit Bulbank is providing €5.3 million in long‑term financing to FitSpo. The EBRD is participating by sharing risk on up to €2.7 million of the financing through its Risk Sharing Facility, helping to improve access to longer‑term funding for a growing local company.
UniCredit Bulbank has been a financial partner of FitSpo since the early stages of the company’s development and has supported the brand’s growth since its market launch. Through tailored financing structures and a swift execution process, the bank has played a key role in enabling the company to scale its operations and strengthen its market position in Bulgaria and abroad.
The financing will support FitSpo’s investment programme to expand and modernise its production facilities in Bulgaria. The project includes the procurement and installation of a new, fully automated production line, a high‑efficiency packaging line and associated equipment, as well as investments in a new innovative green production facility. Once completed, the investment is expected to double FitSpo’s annual production capacity, enabling it to meet rising demand in both domestic and export markets.
FitSpo produces a range of functional food products, including protein bars, protein cookies, whey protein powder, flapjack bars and raw vegan balls, marketed under the FitSpo brand. The company sells its products through major retail chains in Bulgaria and exports to multiple international markets.
“Supporting the growth of innovative Bulgarian companies like FitSpo is part of the bank’s long-term commitment to the development of the local economy,” commented Borislav Bangeev, Director Corporates, UniCredit Bulbank. “We have been proud to stand behind the company since its early development, and this new financing demonstrates how strong banking partnerships can help businesses scale faster, invest in innovation and expand internationally.”
The investments financed by UniCredit Bulbank are fully aligned with the bank’s ESG strategy, supporting projects that promote energy efficiency, sustainable production and the transition to a low-carbon economy. By backing companies that invest in innovative and environmentally responsible technologies, the bank contributes to strengthening the competitiveness of the Bulgarian economy while supporting sustainable growth.
The project will benefit from a grant of up to €750,000 under the EBRD Green Innovation Programme, funded by the European Union’s Horizon 2020 programme . The grant will support the adoption of innovative climate technologies and best‑available equipment, helping a small and fast‑growing enterprise overcome the financial barriers associated with such advanced investments.
The investment is expected to deliver significant environmental benefits, including lower energy consumption, a decline in carbon dioxide (CO₂) emissions, reduced waste generation and improved production efficiency. Estimated annual impacts include energy savings of nearly 96,000 kWh and the avoidance of more than 40 tonnes of CO₂ emissions, alongside reductions in raw material use and packaging waste.
Through its Risk Sharing Facility, the EBRD works with partner banks by sharing the risk associated with eligible loans to local companies, helping to expand access to finance, support investment and strengthen competitiveness. The facility is a key EBRD instrument for supporting small and medium‑sized enterprises and promoting green and innovative investments across its regions.
The EBRD has been investing in Bulgaria since 1991 and, as at 31 January 2026, had invested €5 billion in 318 projects in the country, with a strong focus on private‑sector development, competitiveness and the green economy transition.