European Bank for Reconstruction and Development

The European Bank for Reconstruction and Development (EBRD) was established in 1991 with the aim of contributing to economic progress and supporting the transition to market-oriented economies of Central and Eastern European countries that have agreed to observe the principles of pluralistic democracy. Its shareholders are 71 countries and 2 interstate institutions – the European Union and the European Investment Bank. The EBRD’s share capital is EUR 30 billion. The Republic of Bulgaria’s subscription to the EBRD’s capital is EUR 237.11 million and the country has 0.79% of the voting rights.

The EBRD is managed by a Board of Governors, in which each member of the bank is represented by one governor and one alternate, who are the Minister of Finance and/or the Governor of the Central Bank, as well as by a Board of Directors. Through its activities, the EBRD supports the market-oriented transition of almost 40 economies from Central Europe to Central Asia, the Southern and Eastern Mediterranean region, the West Bank and Gaza, being the largest unilateral investor. By means of timely responding to historical and economic developments, over the years the EBRD has expanded the geographical scope of its operations to new countries – Mongolia, Turkey, Kosovo, JordanTunisiaMorocco, Egypt, Lebanon. Taking into account the financial difficulties of Cyprus and Greece, the EBRD granted them a temporary status of recipient countries. The EBRD also supports the development of the economy in the West Bank and Gaza through a trust fund.

Through its activity and investment policy, the EBRD supports and assists the implementation of structural and sectoral reforms in the countries in which the bank operates, the development of competition, the promotion of privatisation and private initiative and the development of the infrastructure necessary for the support to the private sector. Focusing on private sector investment, the EBRD finances projects engaged in policy dialogue and providing technical advice that foster innovation and help building modern, competitive, well-managed, green, sustainable and integrated economies.

The EBRD has a wide range of financial instruments tailored to the specific projects. The main instruments are loans, equity investments and guarantees.

The EBRD mainly invests in private enterprises, usually together with other commercial partners. The EBRD financing for private sector projects typically ranges from EUR 5 million to EUR 250 million in the form of loans or equity participation. Average investments of the EBRD are in the amount of about EUR 25 million. Smaller projects can be financed through financial intermediaries or through dedicated programmes for smaller direct investments in less developed countries.

The EBRD provides financing for significant infrastructure projects in the public sector. It also works with state and municipal enterprises to support privatisation, restructuring of state-owned enterprises and the improvement of municipal services.

Loans granted by the bank have a repayment period between 1 and 15 years, with a grace period, where necessary. Usually the bank finances up to 35% of the total value of the projects.

Loans are provided in any currency widely traded on the world main financial markets or sometimes in the borrower's local currency, with a fixed or floating interest rate, under markedly favourable terms. In 2021, the bank's high credit rating “AAA” was confirmed by the three leading rating agencies, which enables it, by ensuring funds under the most competitive conditions in international markets, to provide loans that best meet the requirements of its clients.

The Republic of Bulgaria has been a member of the EBRD since its establishment in 1991. The bank's activities are aimed at fostering the transition towards open market-oriented economies and promoting private and entrepreneurial initiative in the countries in which the bank operates. The focus of EBRD investments in Bulgaria is primarily on projects in the area of sustainable infrastructure, finance, industry, trade and agribusiness. Given the EBRD's primary focus on the private sector, the share of the latter predominates in the bank's portfolio for Bulgaria.

In 2020, the EBRD approved the “Bulgaria Country Strategy – 2020-2025” which defines the following strategic priorities for the bank's activities in Bulgaria: support for competitiveness, support for sustainable infrastructure development, strengthening the resilience of financial intermediation.

Companies wishing to apply for funding can get familiar with the EBRD’s activities and the conditions for financing on the bank’s website at:

The address of the EBRD’s headquarters in London is as follows:

European Bank for Reconstruction and Development

5 Bank Street

London E14 4BG

United Kingdom

Tel.: +44 20 7338 6000 or +44 20 7496 6000 

Regional office of EBRD in Bulgaria:

European Bank for Reconstruction and Development.

17 Moskovska Str.

1000 Sofia

Tel.: (+359 2) 9321 414

Fax: (+359 2) 9321 441


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