EBRD and UniCredit Bulbank share risk on loan to Bulgarian protein bar company
€14.8 million loan will help Healthy Bars to build a green production plant and purchase environmentally friendly equipment
EU grants will support the development of a sustainability strategy
The European Bank for Reconstruction and Development (EBRD) is partnering with UniCredit Bulbank to support the expansion and sustainable growth of Healthy Bars, a leading Bulgarian protein bar company.
The EBRD is sharing the risk on a €14.8 million senior secured loan provided by UniCredit Bulbank to Healthy Bars. Through an unfunded risk participation agreement, the EBRD will guarantee up to €5 million. This financing will fund the construction of Healthy Bars’ first green production facility and the acquisition of environmentally friendly equipment, enabling the company to triple its production capacity.
In addition, the EBRD will support the company’s sustainability efforts through its Green Innovation Programme, which is funded by the European Union (EU) via Horizon 2020. This support will have two components: a grant of €0.9 million will facilitate the adoption and acquisition of advanced climate technologies; and a technical cooperation grant worth up to €75,000 will help Healthy Bars to develop a comprehensive climate change and sustainability strategy. This initiative will include cost-benefit analyses of potential green projects, identification of emission sources and benchmarking against industry standards.
Healthy Bars is also accessing advisory services through the Bank’s EU-supported Advice for Small Businesses programme, which are aimed at helping the producer to define and establish its organisational culture and enhance employee engagement.
“We’re proud to be supporting Healthy Bars as they transition to more sustainable and innovative practices,” said Manuela Naessl, the EBRD’s Head of Bulgaria. “This partnership is an excellent example of how the EBRD’s blended concessional finance can address the affordability gap and enable the adoption of advanced, cleaner and more efficient technologies by small and medium-sized enterprises.”
The EBRD’s Green Innovation Programme is currently open to companies in three EU member states: Bulgaria, Latvia and Romania. It supports the researching, development and deployment of green products, technologies and business models that contribute to climate change mitigation and adaptation, pollution control, and the circular economy.
Founded in 2015, Healthy Bars is an innovative Bulgarian company specialising in protein bars for active individuals. Initially focused on its own brand in Bulgaria, south-eastern Europe and the Middle East, the company has since expanded to the EU and now develops private-label products for partners. Healthy Bars is committed to innovation and sustainability as core drivers of its growth.
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Publish date : 2024-12-20 08:00:00
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The post EBRD supports sustainable growth of Bulgarian protein bars producer first appeared on Love Europe.
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Publish date : 2024-12-20 16:24:18
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