The Bulgarian Development Bank (BDB) and United Bulgarian Bank (UBB) signed a financing agreement worth EUR 100 million
The Bulgarian Development Bank (BDB) and United Bulgarian Bank (UBB) have signed a financing agreement worth EUR 100 million. Through this agreement, the two institutions reaffirm their strategic partnership and their commitment to the sustainable development of the banking and financial sector in Bulgaria.
The agreement has been concluded in accordance with the State Budget Act of the Republic of Bulgaria for 2025 and falls within the maximum amount of state guarantees that may be provided under the Bulgarian Development Bank Act.
The loan granted by UBB to BDB supports the implementation of the National Programme for Energy Efficiency of Multi-Family Residential Buildings (2025-2029), as well as the Investment Programme for Municipal Projects, in full compliance with the applicable state aid legislation.
“This agreement is an important step in expanding our cooperation with UBB and in supporting state-priority programmes with long-term economic and social impact”, commented Tsanko Arabadzhiev, Executive Director of the Bulgarian Development Bank.
“For UBB, the partnership under this programme is an important element of the Bank’s strategy for developing a sustainable, energy-efficient environment and for the implementation of key municipal projects that will lead to an improved quality of life for Bulgarian citizens”, said Dobromir Dobrev, Executive Director, Corporate Banking and Markets at UBB.
The document is part of the consistent efforts of BDB and UBB to improve the socio-economic environment in the country. In December, the two banks signed a guarantee agreement under the InvestEU programme to finance SMEs and sustainable investments worth more than EUR 335 million.
The agreement reflects the strategic role of the Bulgarian Development Bank as a public financial institution focused on financing priority national programmes and projects with high social impact.