IIB extends support of the international expansion of Bulgarian business: the Bank provided a loan to Eurohold Bulgaria AD
International Investment Bank and Eurohold Bulgaria AD have concluded a new bilateral agreement for a seven-year loan of EUR 7 million to further support the international development of the Group's business, including in IIB member states.
Founded in 1995, Eurohold Group is one of the largest diversified holding companies in Bulgaria and Central and South-Eastern Europe. Its strategic interests cover such priority sectors as insurance, financial and investment services, energy, sale and leasing of vehicles.
The geography of the Group's presence involves 14 European countries, three of which - Bulgaria, Romania and Russia - are IIB member states. Thus, an important characteristic of this transaction is the distinct integration effect achieved by its implementation.
IIB and Eurohold Bulgaria AD have been fruitfully cooperating since 2014, when the Bank provided the Group with financial support for the first time to expand its presence in Romania. Taking into account the current transaction, the total amount of investments allocated by IIB in the interests of Eurohold Bulgaria AD exceeded EUR 54 million.
“The collaboration between International Investment Bank and Eurohold Bulgaria AD is a vivid example of the positive impact a long-term cooperation with the Bank brings to the comprehensive and successful development of our clients' business. Since the beginning of our collaboration, the Group has demonstrated a real “success story”, having consolidated its position as one of the leading diverse financial and economic holdings in the region.” - said Georgy Potapov, IIB Deputy Chairperson of the Management Board in charge of Lending and Investment. “We are very pleased with the achievements of our long-standing Bulgarian counterpart and will look for opportunities to continue our fruitful project partnership in the future.”
Bulgaria is one of the most active IIB member states with the third largest share in the Bank’s paid-in capital. To date, the volume of the "Bulgarian" loan portfolio exceeds EUR 130 million. Since the relaunch of the Bank in 2012, over EUR 380 million have been allocated to support such key sectors of the Bulgarian economy as infrastructure development, energy, telecommunications, food and pharmaceutical industries.
Currently, a number of Bulgarian projects amounting to over EUR 100 million is at various stages of assessment at IIB.