The European Bank for Reconstruction and Development (EBRD) has partnered with UniCredit Bulbank to support the growth and sustainability of Healthy Bars, a leading Bulgarian protein bar producer. As part of this partnership, the EBRD will share the risk on a €14.8 million senior secured loan provided by UniCredit Bulbank to the company. Through an unfunded risk participation agreement, the EBRD will guarantee up to €5 million of the loan, which will help fund the construction of a new green production facility and the purchase of eco-friendly equipment, enabling Healthy Bars to increase its production capacity threefold.

In addition to the loan, the EBRD will assist Healthy Bars with its sustainability initiatives through its Green Innovation Programme, supported by the EU’s Horizon 2020 funding. This includes a €0.9 million grant to support the adoption of advanced climate technologies and a technical cooperation grant of up to €75,000. This grant will aid the company in developing a comprehensive sustainability and climate change strategy, including conducting cost-benefit analyses of potential green projects, identifying emission sources, and benchmarking their efforts against industry standards.

The company will also benefit from advisory services through the EU-supported Advice for Small Businesses programme, aimed at improving its organizational culture and enhancing employee engagement.

Manuela Naessl, the EBRD’s Head of Bulgaria, expressed pride in supporting Healthy Bars as it transitions toward more sustainable and innovative practices. She noted that the EBRD's blended concessional finance model plays a crucial role in helping small and medium-sized enterprises adopt advanced and more environmentally friendly technologies.

The EBRD’s Green Innovation Programme is available to companies in Bulgaria, Latvia, and Romania, and supports the development and deployment of green products, technologies, and business models aimed at addressing climate change and pollution while promoting the circular economy.

Founded in 2015, Healthy Bars has grown from a local Bulgarian company to an international player, specializing in protein bars for active individuals. Initially focused on its own brand, the company now develops private-label products for various partners across the EU, the Middle East, and southeastern Europe. Sustainability and innovation remain central to the company’s growth strategy.

Source: EBRD