27.03.2024 Tsanko Arabadzhiev: Every fourth project supported by the Bulgarian Development Bank is for a green investment
25% of the bank’s portfolio are already projects related to renewable sources and energy efficiency
The Bulgarian Development Bank (BDB) actively supports Bulgarian business in its transition to carbon neutrality, and the portfolio of green projects at the bank has grown significantly in the last two years.
The Bulgarian Development Bank actively supports Bulgarian business in its transition to carbon neutrality, and the portfolio of green projects at the bank has grown significantly in the last two years. 25% of the total financing is already for green projects, which means that every fourth loan of the banking group is for a green investment. This was stated by the Executive Director of the BDB, Tsanko Arabadzhiev, in the studio of Bloomberg TV Bulgaria.
Among the most popular programs of the bank is the one for financing photovoltaic facilities up to 1 MW/p from BGN 400 thousand to BGN 5 million. The bank also provides a “bridging” resource to companies that are looking for advance funds to start their projects with grant funding under national and European programmes related to energy efficiency and green transition.
Many opportunities are already available for Bulgarian business to accelerate the transition to carbon neutrality - both directly from the Development Bank and through the commercial banks in the country, which are partners of the BDB in the various programs.
In the coming years, the Bulgarian Development Bank plans to allocate BGN 2 billion to businesses under the InvestEU Programme, again through commercial banks. As an implementing partner of the programme in Bulgaria, the bank will direct support to sustainable and green financing, innovation and digitization. The goal is fully reach help to small and medium-sized businesses to overcome market discrepancies in these key areas.
