UBB and EBRD have signed 4 new agreements in support of businesses and households

Four new agreements in support of the Bulgarian businesses and households in a total amount of EUR 27 million were signed at the beginning of the week between United Bulgarian Bank (UBB) and its long- standing partner - the European Bank for Reconstruction and Development (EBRD).

Two of the agreements concern energy efficiency projects for small and medium-sized enterprises and households, and another two – promotion of trade finance.

"We are glad to once again join forces with the EBRD in our efforts to support the sustainable development of small and medium-sized enterprises in this country. We believe that our long-standing experience and tradition in the financing of Bulgarian enterprises and households will contribute to the success of the projects", Mr. Stilian Vatev, CEO and Chairman of UBB’s Board of Directors, said upon signing.

The agreement on the Energy Efficiency for Competitive Industry Financial Facility is within the Energy Efficiency and Green Economy Programme, part of the Operational Programme Development of the Competitiveness of the Bulgarian Economy 2007-2013. Thanks to the agreement enterprises will be provided with investment loans for financing of approved projects under the Programme. Upon the projects’ successful completion, companies can receive subsidies under the Operational Programme, reaching up to 50% of the approved project expenses.

Both natural persons and households may benefit from the Energy Efficiency for the Home Programme to finance projects for house renovation and repairs, aiming at reducing expenses on energy. Besides the attractive financial terms and conditions the Bank’s clients will also receive subsidies in the amount of up to 20% of the cost value of the energy-saving project, for which they have received financing from UBB.

The signing of the agreements between UBB and EBRD marked yet another stage in the development of the services, offered by UBB and aimed at combining bank products with the opportunities, provided by the EU funds. Thus with the agreements under the Trade Facilitation Programme UBB, in cooperation with EBRD, will attempt at facilitating the regional and international trade relations and boosting economic growth.