What is EBRD's Economic Forecast for Bulgaria
Reduced gas supplies and inflation to slow growth further in EBRD regions
The Bulgarian UniCredit Bulbank has secured a EUR 50 M credit line from the European Bank for Reconstruction and Development (EBRD) as part of its funding for the crisis-hit region.
The credit line will fund small and medium-sized enterprises, whose turnover does not exceed EUR 50 M and who have no more than 249 employees.
James Hyslop, EBRD Director for Bulgaria, commented that the project is an important step towards giving opportunities to small and medium-sized companies for long-term investments.
The European Bank for Reconstruction and Development (EBRD) is making investments worth EUR 432.4 M in UniCredit subsidiaries across eight eastern European countries, as part of a joint effort to tackle the impact of the global economic crisis on the region.
"As the single biggest financial investor and the largest banking group in central and eastern Europe, the EBRD and UniCredit have a common purpose and special responsibility to this region to ensure the continuing flow of lending to the real economies in times of crisis and scarce external funding," said EBRD President Thomas Mirow.
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