Encouragement Bank signed a framework agreement with CoopEst S.A. for co-financing of socially significant projects, which will contribute for the sustainable economical development of Bulgaria.
The two institutions will cooperate in the field of long-term financing, syndicated loans and guarantees, subscription to bond issues, interventions in providing guarantees, etc.
Eligible projects for financing will include: energy equipment, alternative and renewable energies, social housing, rural tourism, organic farming, municipal enterprises and municipal transportation.
The participation of CoopEst in a particular project will amount from EUR 500 000 to EUR 2 000 000.
CoopEst was established in October 2005 in Brussels as a limited liability company in accordance with the Belgian law, by several financial institutions, operating in the social-economy sectors of Belgium, France, Italy and Poland. The objective of CoopEst S.A. is the financing of social-economy initiatives in Central and Eastern Europe.
The founding members of CoopEst S.A. are Credit Cooperatif - France, IDES Investissements - France, Soficatra - Belgium, CFI - Italy, MACIF Participations - France, Bank BISE - Poland, SEFEA - Italy.
