The loan has been offered under the Bulgarian Energy Efficiency for Competitive Industry Finance Facility (BEECIFF).
The amount will be employed in meeting the increasing demand for energy efficiency finance from small and medium-sized enterprises (SMEs).
It will also boost the financing available for rational energy utilization and help in lowering energy costs and high energy intensity in the country.
Commenting on the transaction, EBRD Bulgaria director Daniel Berg said that the bank’s partnership is built not only on commercial fundamentals but also its shared vision of strengthening local small businesses and improving energy efficiency.
"There continues to be strong demand for these innovative products which combine grants and loans to facilitate energy efficiency investments. However, we continue our dialogue with the Government to ensure incentives for investing in energy efficiency are strong," added Berg.
Raiffeisenbank has also participated in six EBRD credit lines for the Bulgarian business and retail sectors such as SMEs, sustainable energy financing under BEERECL, BEECIFF and the REECL frameworks, since 2002.
