EFG Eurobank Bulgaria - Senior Loan

Location:

Bulgaria

Project number:

40826

Business sector:

Notice type:

Private

Environmental category:

FI

Approval date:

20 Jul 2010

Status:

Completed

PSD disclosed:

01 Nov 2010

Translated version of this PSD: Bulgarian

Project Description

The EBRD has signed loans worth a total of EUR 230 million with Eurobank EFG subsidiaries across three South-Eastern European countries, as part of a package approved in July 2010. The aim is to provide medium and long-term debt financing through Eurobank EFG subsidiaries for on-lending to private businesses operating in the three countries.

The EBRD investments are part of the Joint International Financial Institutions Action Plan set up by the EBRD, the World Bank Group and the European Investment Bank (EIB) to provide over EUR 24 billion in support of the banking sectors in the region and to fund lending to businesses hit by the global crisis.

Transition Impact

The credit lines will contribute to the transition process by maintaining an essential flow of lending to enterprises at a time when the availability of credit, particularly to SMEs and corporates has been constrained.

The Client

Eurobank EFG group subsidiaries in three countries of EBRD’s region.

Eurobank EFG is an international banking group with a strong and long-standing commitment to the region with a presence in 8 countries in Central and South-Eastern Europe. The group employs a total of 23,578 employees servicing its clients through more than 1,600 branches.

EBRD Finance

€75 million.

Project Cost

A total of € 230 million.

Environmental Impact

The Eurobank EFG subsidiaries will be required to comply with EBRD’s Environmental Performance Requirement (“PR”) 9 when making local loans, conduct their business in accordance with PR 2, adhere to the EBRD's Environmental and Social Exclusion and Referral Lists, and submit Annual Environmental and Social Reports to the Bank. The subsidiary borrowers will be required to comply with applicable national environmental, health and safety and labour requirements.

Technical Cooperation

None.

Company Contact

Mr. Dimitris Nikolos
Head of Investors Relations
Eurobank EFG
20, Amalias & 5, Souri Street
10557 Athens, Greece

Tel: +30 210 333 7844
E-mail: dnikolos@eurobank.gr

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.