- EBRD €20 million loan to Sofia Med
- Funds to boost the capacity expansion investment
- Sofia Med to develop and implement a low-carbon strategy
The European Bank for Reconstruction and Development (EBRD) is providing a €20 million loan to the leading Bulgarian copper producer Sofia Med AD to help meet capital expenditure needs in the context of its sustainable growth.
The funds will allow Sofia Med to expand production of copper and copper alloy strips, mainly in response to the increasing demand for copper in green applications ranging from e-mobility to renewable energy.
The EBRD funded investments include two annealing furnaces, new cold rolling unit, as well as other investments increasing the throughput of final stages of production.
As part of the engagement, the EBRD will also support Sofia Med in developing and implementing a Low-Carbon Pathway to align operations to the goals of the Paris Agreement on climate change.
A major investor in Bulgaria, the EBRD has invested more than €4 billion into various sectors of Bulgaria’s economy through 250 projects. Sofia Med has been an EBRD client since 2012.