Bulgarian Postbank joins EBRD Trade Facilitation Program to support regional trade and energy efficiency projects

13-8-2013 — /EuropaWire/ — Postbank will participate in EBRD Trade Facilitation Program and will receive a Credit line for SME energy efficiency form EBRD.

Postbank will receive EUR 20 million financing under the EBRD Trade Facilitation Program. Through this program, the Bank will be able to further support Bulgarian exporters and importers by providing guarantees covering risks in banking trade finance transactions and short-term financing for pre-export, import and factoring.

Further assistance will be provided through EBRD Bulgarian Energy Efficiency for Competitive Industry Finance Facility(BEECIFF), under which Postbank will receive EUR 4 million financing. The program was launched in April 2012 and provides financing to SMEs for energy efficiency investments, eligible for grants under the government Green Economy Programme, supported by EU Structural Funds.

Petia Dimitrova, CEO of Postbank emphasized that through its participation in EBRD Trade Facilitation Program, Postbank as one of the key partners of the Bulgarian business will be able to support even stronger the export-import business of its customers by offering very attractive terms to their international transactions. “Despite the unstable financial situation in the past years, Postbank has always strived to be socially and environmentally responsible company. Being an institution with long-standing traditions in supporting such causes, we go forward alongside EBRD to reinforce business growth in Bulgaria as the economy recovers. Environmental sustainability is not only a programme or initiative; it is a way of doing business for us”, said Petia Dimitrova.

Nick Tesseyman, EBRD Managing Director, Financial Institutions, pointed out that Postbank is a longstanding and experienced client of EBRD, that remains committed to supporting businesses in becoming more efficient and competitive. “In addition, the bank’s focus on financing trade is extremely important to encourage regional trade, help boost exports and support economic growth”, said Tesseyman.

The funds are being provided under the international financial institutions’ joint Action Plan agreed between the EBRD, the World Bank Group and the European Investment Bank in November 2012. The Action Plan, developed within the context of the ”Vienna Initiative”, includes more than €30 billion of joint commitments for the period 2013-2014.