“Unicredit Bulbank” will fund Bulgarian companies with 50 million euro under a credit line from the European bank for reconstruction and development, informed the bank institution.

The agreement was signed today in London within the framework of the Annual meeting of the European bank for reconstruction and development (EBRD).

On behalf of the EBRD the loan is signed by Jean-Marc Peterschmit, director of “Financial institutions” in EBRD, and on behalf of “Unicredit Bulbank” by its executive director and chair of the management board Levon Hampartzumian and the chief operative director and deputy chairman of the management board Andrea Kazini.

The funds under this 5-year credit will be used for mid- and long-term funding of small and medium enterprises with up to 249 employees and maximum allowed turnover of 50 million euro.

The credit is part of the joint initiative of the EBRD with “Unicredite Group” for continuation of the investments in Eastern Europe and securing of possibilities for funding in the real economy.

Through banks of “Unicredite Group” EBRD invests altogether 432.4 million euro in eight East European states as part of the joint effort for overcoming the influence of the global economic crisis in the region.

“Unicredit Group” is the biggest bank group in Central and Eastern Europe with over 4000 branches in 19 countries. Apart from its own programs for funding of its banks, the group cooperates with international institutions such as EBRD in order to secure consecutive support for the local economies.

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