EUROBANK BULGARIA AD (POSTBANK) RISK SHARING

Promoteur – Intermédiaire Financier

EUROBANK BULGARIA AD

Lieu

• Bulgarie

Description

The project consists in a "Linked Risk-Sharing Operation" to support eligible Bulgarian mid-caps operating in the field of innovation and environment.

Additionality and Impact

This Linked risk sharing operation is designed to provide support to mid-caps in order to foster access to liquidity and contribute to long-term economic growth in Bulgaria. The operation addresses the underlying market failure in access to finance faced by Final Beneficiaries due to information asymmetries and credit considerations on the side of the Financial Intermediaries. Given the economic uncertainty exacerbated by supply chain constraints, inflation, rising interest rates, energy security constraints and the lasting effects of the pandemic the proposed risk sharing operation may alleviate some of the pressures faced by the real economy. The EIB contribution enables Postbank to reach beneficiaries that are not covered by any of the existing guarantee schemes currently available in Bulgaria. The EIB contribution rests on assuming credit risks and thereby allowing the Financial Intermediary to engage into transactions that it would not have engaged in without the EIB's intervention due to for example capital or credit risk related limitations. The final beneficiaries will benefit from the above additional lending made available by Postbank at typically beneficial terms, in the form of reduced interest rates, longer maturities and/or lower collateral requirements.

Objectifs

The aim is to enhance access to finance to the final beneficiaries.

Secteur(s)

• Lignes de crédit - Lignes de crédit

Montant BEI envisagé (montant approximatif)

EUR 75 million

Coût total (montant approximatif)

EUR 210 million

Aspects environnementaux

The operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". The Borrower / Financial Intermediary has adequate capacity, systems and processes in place for identifying, assessing, managing and monitoring environmental, climate and social (ECS) risks related to the potential sub-projects benefitting from EIB support. The Final beneficiaries will be required to comply with applicable national and EU legislation in respect of environmental and social matters, as appropriate.

Passation des marchés

Final beneficiaries will be requested to comply with applicable national and EU procurement legislation, as appropriate.

Statut

Signé - 20/12/2024