ProCredit Bank Bulgaria Gets 20 Mln Euro EBRD Loan To Back SMEs

This is the fourth loan agreement of ProCredit Bank Bulgaria with the EBRD. ProCredit Bank has received 27 million euro from the bank since 2001, the EBRD said in a statement.

All the funds were used to support SMEs, Bilyana Milanova, public relations officer of ProCredit Bank Bulgaria, told SeeNews.

ProCredit Bank Bulgaria had 72 branches and a credit portfolio of 1.12 billion levs at the end of June. It was set up in 2001 by international financial institutions to support the growth of small and medium-sized businesses in the country.

EBRD is one of the largest investors in Bulgaria with over 1.6 billion euro committed to projects across the country.

(1 euro = 1.95583 Bulgarian levs)