EBRD Injects E250 M in Bulgaria
The European Bank for Reconstruction and Development (EBRD) will inject nearly 250 million euro in Bulgaria in 2011. This sum is mainly meant for the Greek banks in Bulgaria. The total sum with which the EBRD will help in the bank sector of its member countries for 2011 will be 980 million euro. The aid was approved by the EBRD board of directors several weeks ago and it now has to be finally voted, Stefka Slavova, director of EBRD Bulgaria told the Standart. In 2010, the total sum of investment of the EBRD in Bulgaria was 540 million euro as half of the funds were mainly released to support three of the Greek banks in Bulgaria - United Bulgarian Bank (UBB), EFG Eurobank (Post Bank) and Piraåus bank. Only for 2010, the three banks received nearly 240 million euro.