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SOFIA (Bulgaria), March 21 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Thursday that it has extended a risk-sharing facility of up to 75 million euro (85.4 million) to Bulgaria's UniCredit Bulbank in support of local businesses.
The EBRD will guarantee up to 65% of each individual sub-loan provided by UniCredit Bulbank to eligible clients, the international financial institution said in a statement.
This is the second risk sharing facility launched by the EBRD in Bulgaria, it said.
The Risk Sharing Framework (RSF) is one of the three components of the EBRD's Small Business Initiative - a programme dedicated to supporting and developing private companies in the economies where the EBRD invests.
The EBRD has invested nearly 3.9 billion euro in 253 projects in Bulgaria to date.
UniCredit Bulbank, a unit of Italy's UniCredit, was Bulgaria's largest lender by assets at the end of January, according to central bank data.
($ = 0.8779 euro)