EBRD mulls lending 50 mln euro to ProCredit Bank Bulgaria to back MSMEs

The loan will allow ProCredit Bank Bulgaria to expand its mid- and long-term lending to MSMEs by financing working capital needs and investment projects, the EBRD said in a notice on Wednesday.

The loan will also foster MSMEs' competitiveness by increasing availability of financing.

At end-October, ProCredit Bank Bulgaria ranked 14th in terms of assets on the Bulgarian market where 22 banks and 5 foreign branches operate.

($= 0.8380 euro)