Projects Financed

Operation Summary

Operation Name:

Procredit Bank Bulgaria

Identification Code:

OP/17/0043
Total Operation Cost:20.000.000  EUR
Maturity:

12 months

Operation Status:
BSTDB Approved AmountApproval Date
20.000.000  EUR22 Sep 2017
BSTDB Signed AmountSigned Date
20.000.000  EUR17 Oct 2017
Status: Active
Description and Purpose
of the Operation:

Procredit Bank Bulgaria

Countries of Operation:
Bulgaria100,00 %
Financial Product:

SME's

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

Procredit Bank, Bulgaria, SME Finance Facility

Co-Financiers/Participants:

N/A

Guarantors/Sponsors:

N/A

Developmental and Regional Cooperation Impact:

The operation involves a loan for on-lending to small and medium sized enterprises (SMEs) that is expected to have modest but favorable economic benefits for the Bulgarian economy. The most relevant of these is the additional tax revenue gains from increased economic activity resulting from the financing provided. In addition, the financing will help further enhance benefits such as increases in employment, increase in export capacity and competitiveness, and multiplier effects for other parts of the economy. The regional cooperation element is likely to be very minor but positive. The operation is consistent with sector and operation priorities outlined in BSTDBós Medium Term Strategy and Business Plan 2015-18 and the Country Strategy for Bulgaria 2015-2018.

Environmental Classification and Impact (summary):

ProCredit Bank Bulgaria has been a long standing partner of BSTDB and the accumulated experience in terms of environmental and social (E&S) performance has always been positive. ProCredit Bank Bulgaria abides to the groupós E&S corporate requirements consisting of policy and procedural documents, which are applied across all ProCreditós subsidiaries, and are fully compliant with the BSTDBós requirements for Financial Intermediaries. Monitoring of E&S performance of previous operations concluded that the E&S management system is well integrated into the overall portfolio management, and that sub-projects of medium and high E&S risks categories are adequately assessed and monitored. The Loan Agreement will include BSTDBós standard E&S covenants for SME lines. For the purpose of this operation no other E&S assessment is considered necessary.

Operation Leader:

Financial Institutions I

E-mail:

fi1@bstdb.org


As of 31 Oct 2017