The European Bank for Reconstruction and Development (EBRD) will
supply a €20 million loan to Raiffeisen Leasing Bulgaria to support
the Bulgarian SME sector.
The loan will be used to provide leases to local companies in
Bulgaria to finance capital investments for the expansion of their
businesses. This could include the acquisition of equipment, light
commercial vehicles, trucks and trailers, and cars for commercial
use.
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The project is aimed at boosting leasing financing in Bulgaria,
as the market has been severely
affected by the global financial and economic crisis, which led to
a sharp decline in new leasing volumes during the past few
years. SMEs in Bulgaria still have limited access to other
funding sources, according to the EBRD.
Daniel Berg, EBRD Director for Bulgaria, said: “In particular,
the EBRD finance will increase access to stable funding for private
businesses and help them deal with liquidity problems.
“At the same time, the project will support the local leasing
market and the bank’s long-term partner Raiffeisen Leasing
Bulgaria, helping the company to diversify its funding
sources.”
SME financing accounts for more than 40% of Raiffeisen Leasing
Bulgaria’s portfolio and it is one of the leading players in the
Bulgarian leasing market.
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By GlobalDataThe latest facility is the EBRD’s third financing deal with
Raiffeisen Leasing Bulgaria, bringing the total loan amount
extended to the company to €40 million.
claire.hack@vrlfinancialnews.com
