📋 Tender Overview
Location:
Bulgaria
Project number:
55598
Business sector:
Financial institutions
Notice type:
Private
Environmental category:
BE
Approval date:
09 Apr 2025
Status:
Exploratory
English-language PSD published:
04 Mar 2025
Project Description
An uncapped unfunded portfolio guarantee to be provided by the EBRD as an InvestEU implementing partner to Unicredit Bulbank (UCB), as an eligible partner financial intermediary ("PFI") in Bulgaria under the EBRD's InvestEU Green Uncapped Portfolio Guarantee Framework. The guarantee will cover a newly generated portfolio of loans amounting to up to EUR 100 million, financing eligible green projects related to buildings or sustainable transport. The Project benefits from partial first loss risk cover from the European Union under the InvestEU Fund.
Project Objectives
The Project aims to support the EBRD's green agenda in Bulgaria and the national green economy priorities. It will bridge the funding gap for sustainable energy investments in the country and support the resilience of a systemic bank and expand its green lending capacity.
Transition Impact
ETI score: 60
The expected transition impact stems from the contribution to the Green and Resilient qualities.
Green: by addressing the issue of high energy consumption in buildings and the transport sector in Bulgaria through increased sustainable energy investments leading to energy savings and reduction of carbon emissions. UCB will allocate at least 200% of the EBRD guarantee amount to eligible green projects, thus enhancing the Project's contribution to green economy transition.
Resilient: by supporting UCB in building resilience by optimising its capital base, freeing up capacity for green lending.
Client Information
UNICREDIT BULBANK AD
UCB is the third largest and a systematically important bank in Bulgaria with a market share of c. 18.2% of total assets as of YE2024. UCB is majority-owned by Unicredit S.p.A. with an ownership stake of 99.45%.
EBRD Finance Summary
EUR 50,000,000.00
Total Project Cost
EUR 100,000,000.00
Additionality
The Project provides an innovative financial instrument and risk mitigation to UCB through a portfolio risk sharing instrument dedicated to green investments, sets standards by way of minimum performance requirements of technologies, as well as climateirelated monitoring and reporting standards, and supports the investments with dedicated technical assistance for UCB and final borrowers and increases market awareness on best performing sustainable energy solutions.
Environmental and Social Summary
Categorised FI (2019 ESP). UCB is an existing client and they have an Environmental and Social Management System (ESMS) including an E&S Policy and other E&S Procedures in compliance with the EBRD's Performance Requirements 2, 4 and 9. Environmental and Social Due Diligence (ESDD) involved the review of the FI ESDD questionnaire and the annual environmental and social
