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Feb 12, 2024 12:36 EEST
February 12 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Monday that it is considering extending unfunded guarantees to Eurobank Bulgaria, operating under the Postbank brand, for two new loan portfolios totalling 260 million euro ($280 million) and earmarked for green projects.
The loan guarantees are slated for approval on March 20, the EBRD said in two project documents published on its website.
The first guarantee, which is capped, will cover a loan portfolio of up to 140 million euro for funding projects across industry sectors, addressing Bulgaria's high energy intensity. The EBRD will contribute up to 39.2 million euro under its InvestEU green capped portfolio guarantee framework.
The second guarantee, which will be uncapped, will support loans totalling 120 million euro for projects targeting high energy consumption in buildings and the transport sector. The EBRD will finance up to 96 million euro of the total project cost under its InvestEU green uncapped portfolio guarantee framework.
The projects will advance the EBRD's green agenda in Bulgaria and national green economy priorities, tackling the funding gap for sustainable energy investments, enhancing Postbank's resilience and expanding Postbank's green lending capacity.
($ = 0.9283 euro)
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