EBRD continue to support the successful
business of Bulgarianenergybar producer
Smart Organic, a leading Bulgarian producer and
distributor of organic products, gets a boost from the
European Bank for Reconstruction and Development
(EBRD) by its extending a EUR 2 million loan.
The Bulgarian energy bar producer is specialized
in distribution of organic foods and production of
energy-boosting snacks (protein bars). Smart Or-
ganic is export oriented - exporting almost 70 per
cent of its production. Roobar is Smart Organic's
most successful brand, selling in over 40 countries
and across 5 continents.
The EBRD is financing part of the firm's EUR3.3
million expansion programme as the company is
extending to international markets, consolidating
in one location production, packaging operations
"With its energy-boosting, healthy snacks power-
ing people in over 40 countries, Smart Organic has
seen exceptional growth this year and is keen to
expand further. Now that the company seeks to
boost itself to meet growing demand, the EBRD is
delighted to lend a hand. We hope that our invest-
ment will help Bulgarian energy bars conquer the
world.", said Larisa Manastirli, EBRD Director for
Bulgaria.Yani Dragov, Executive Director of Smart
Organic, commented: "We are delighted to cooper-
ate with the EBRD and with their help we will be
able to reach our goals for expansion in the years
ahead. Investing in the consolidation and extension
of our production and administration is a step we
had to take. Now we are confident that we can meet
the growing demand we face. The quality of our
products is another area that will see further im-
provement due to this investment."
The reason of the help of EBRD to the Bulgarian
company was the declared priority of the Bank to sup-
port successful companies become more competitive
locally and abroad.
In 2016 the EBRD has invested close to EUR 600
million in the Bulgarian economy. In the years ahead,
the Bank will aim to keep its level of investment at
about EUR 200 million annually in response to local
demand, says the bank official message.
To date, the EBRD - one of the largest institutional
investors in Bulgaria - has invested over EUR 3.4
billion in more than 230 projects in the country. Some
80 per cent of the Bank's investments in Bulgaria are
in the private sector.
An actionplan for sustainable future of Ti-
rana was settled
Recently, the European Bank for Reconstruction and
Development (EBRD) and the municipality of Tirana
joined forces to ensure the development of the sus-
tainable future of the Albanian capital.
"EBRD has its Green Cities Programme to support
municipalities addressing environmental challenges.
Green - or sustainable - development is one of the six
transition qualities the EBRD has identified in its ap-
proach to the countries where it invests, with competi-
tiveness, resilience, governance, integration and in-
clusion the other key elements. Cities face many envi-
ronmental challenges, ranging from local air quality
concerns, traffic congestion and limited land resourc-
es to pressure on water resources and the challenges
associated with municipal solid waste. According to
the International Energy Agency (IEA), around two-
thirds of energy use takes place within urban sys-
tems", says the bank message.
Concerning Tirana the Green City Action Plan was
settled, facing the most urgent problems of its popula-
tion. It is connected with the signed in 2015 Memoran-
dum of Understanding between the EBRD and the
municipality of Tirana. The main areas of partnership
includes urban transport, urban roads infrastructure,
water and wastewater services, solid waste manage-
ment, street lights and energy efficiency.
"The Green City Action Plan is funded by the Austrian
Federal Ministry of Finance under theWestern Balkans
DRIVE Fund. The methodology was developed by the
EBRD with the Organisation for Economic Co-opera-
tion and Development (OECD) and the International
Council for Local Environmental Initiatives. The project
will be led by Arup, a London-based consultancy spe-
cialising in urban transformation projects, in consortium
with legal and accounting consultancy firms Abkons,
Grant Thornton and LXL. Promoting sustainable ener-
gy and environmentally sound investments is one of the
EBRD's priorities in Albania. To date, the Bank has in-
vested over 1 billion in almost 80 projects. It is active in
all sectors of the economy with a special emphasis on
infrastructure and energy, where demand and potential
are high", says the EBRD message.
10 million euro loan provided to Turkish
manufacturer Bozankaya by the EBRD
Bozankaya, a Turkish producer of public transporta-
tion vehicles such as trams and electric buses, has
Source: Smart Organic
partnered with Siemens to produce 22 four-wagon
metro trains for Bangkok, Thailand.
The European Bank for Reconstruction and Devel-
opment (EBRD) is providing a EUR 10 million loan to
Bozankaya in order to finance the capital expenditure
needed to fulfil this order. The finance will support the
implementation of a robotic automated welding ma-
chine in Bozankaya Ankara plant and new facility to
make the expanded production possible.
"Bozankaya is a pioneer in Turkey when it comes
to environmentally-friendly electric buses and trams.
Now, this partnership with Siemens is taking it to a
new level. The company, its staff and the Turkish
manufacturing sector as a whole will benefit enor-
mously from the know-how that the leading global
engineering company is bringing into this joint un-
dertaking. We are pleased to play a role and wish
the consortium the best of luck in future tenders
across the globe", said Jean-Patrick Marquet, EBRD
Managing Director for Turkey.
Aytunc Gunay Bozankaya, the chairman of the board
of Bozankaya, said: "Our company designs and pro-
duces trams, electric buses and metros for the future.
With this new landmark partnership with Siemens, and
with the support of the EBRD, we will be flying the flag
for Turkish engineering across the world."
Bozankaya is one more good example of EBRD's
role in supporting manufacturers in their move to
strengthen the integration of the local economy with
"The EBRD's financing for Turkish private sector
companies, such as Bozankaya, makes them more
competitive in global markets. Competitiveness is
one of the six transition qualities the EBRD has
identified in its approach to the countries where it
invests, with environmentally friendly, resilience,
governance, integration and inclusion the other key
elements. The EBRD started investing in Turkey in
2009 and currently operates from offices in Istan-
bul, Ankara and Gaziantep. The country is a top
destination for the Bank's finance, with EUR 1.9 bi-
llion invested in 2016 alone. To date, the Bank has
invested over EUR 9 billion in Turkey through more
than 220 projects across sectors and has mobi-
lised nearly EUR 20 billion for these ventures from
other sources of financing. Some 98 per cent of the
Bank's investments in Turkey are in the private sec-
tor", says the EBRD message.