ProCredit Bank Bulgaria (PCBB) was established in December 2000, with the support of EBRD to provide financial services to micro and small enterprises (MSEs) in Bulgaria. Since the start of operations, PCBB disbursed 137,000 loans to Bulgarian MSEs for a total volume of EUR1.2 billion.
The proposed syndicated A/B transaction of up to EUR 80 million will include an A Loan of up to EUR 20 million, while the B-Loan will be financed by commercial lenders
The new financing will further assist PCBB in accessing international loan markets thus contributing to diversification of the commercial funding base and providing even greater access to MSMEs. PCBB will continue to provide support to MSEs that would otherwise have limited access to formal sector finance. PCBB will also support the development of the financial sector by operating as a best practice institution committed to the principles of complete transparency and strong corporate governance and will have a positive demonstration effect on banks operating in Bulgaria.
PCBB was established in 2001 and is part of the international ProCredit Holding group, a network dedicated to developing microfinance banks globally.
The bank is headquartered in Sofia and is operating through its 75 branches across Bulgaria and is planning to grow its regional branch network further.
The EBRD will provide an EUR 20 million A Loan.
The total cost of the project is up to EUR 80 million, including EBRD’s portion of up to EUR 20 million.
PCBB carries out its operations in accordance with the EBRD’s Environmental Procedures for Small and Micro Loans. In implementing these procedures, it will require its borrowers to comply, at a minimum, with national/local health, safety, environmental and public consultation requirements.
PCBB benefited in past from USD 2.9 million of technical assistance funding to support establishment of the bank, regional expansion, environmental training and development of specialist agricultural lending products. No further technical assistance funds are provided.
ProCredit Bank Bulgaria
Tel: +359 2 92171 02
Fax: +359 2 921 71 10
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Tel: +44 20 7338 7168
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