October 5 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Wednesday it provided a 50 million euro ($56.6 million) loan to Raiffeisen Leasing Bulgaria for financing privately-owned micro, small and medium-sized companies (SMEs).
Raiffeisen Leasing Bulgaria, the third largest leasing company in the country, will use the funds to finance the lease of equipment, trucks and trailers, light commercial vehicles and fleet transactions with passenger cars, the bank said in a statement.
"With the leasing sector recovering from the financial crisis and demand for lease financing beginning to revive, we are delighted to extend this new loan to Raiffeisen Leasing, one of the strongest players in Bulgaria’s leasing market," Larisa Manastirli, EBRD Director for Bulgaria said in the statement.
Raiffeisen Leasing had total assets of 155 million euro and total equity of 9 million euro as at end-March. The company is owned by Raiffeisenbank Bulgaria with a share of 24.5% and Raiffeisen Leasing International GmbH with 75.5%.
($= 0.8910 euro)