Bulgaria received €948 million from the EIB in 2021
The European Investment Bank (EIB) along with the European Investment Fund (EIF) invested €948 million in Bulgaria in 2021, a 114% increase over 2020.
The EIB contributed €176 million, primarily towards sustainable infrastructure and green urban development projects, while the EIF provided €772 towards SMEs.
So far 5,900 businesses have benefited, and 126,000 jobs have been created or sustained through the funding.
Support under the European Guarantee Fund (EGF) in Bulgaria is expected to unlock €2.7 billion for SMEs struggling under the impact of the COVID-19 pandemic. The EGF was set up by the EIB Group with contributions from Bulgaria and other EU Member States to shield companies suffering from the COVID-19 crisis.
“This last year continued to be challenging for the global and Bulgarian economy due to the COVID-19 pandemic,” said EIB Vice-President Lilyana Pavlova.
“I am delighted that the EIB Group more than doubled its activities in the country compared to 2020. Nearly 6,000 businesses across Bulgaria benefited from finance with favourable conditions to sustain jobs and help companies to continue with their economic activities. In addition, the EIB played a key role in supporting sustainable infrastructure investments and through our advisory services we helped to get projects off the ground and make them bankable.”
EIB Investment Survey results for Bulgaria
The EIB also released its annual EIB Investment Survey results for Bulgaria, which found that Bulgarian firms were more optimistic in 2021 than in 2020, with more firms likely to increase rather than decrease investment.
EIB Group continues to support Europe through Covid-19
For the second year in a row, the EU bank focused on fighting the COVID-19 crisis while increasing its financing for green projects. The EIB Group worked with partners in Europe and around the world to deliver a record €95 billion in financing, a 23% increase from 2020 (€77 billion).
Financing hit the highest level in the EIB’s 63-year history, largely due to additional resources provided by the €24.4 billion European Guarantee Fund, which was established in 2020 with support from 22 EU Member States to help Europe’s economy (and in particular SMEs and mid-caps) deal with the economic impact of the COVID 19 pandemic.