devinitorg/iati-policy-markers huggingface dataset:
Schwarz IV Project Kaufland, a chain of hypermarkets with primary focus on food retail, is continuing its expansion plan in Bulgaria which includes opening new Kaufland stores across large and small cities of the country (the Project).  The Schwarz Group, owner of Kaufland and one of the leading European food retailers, has requested IFC to provide a long-term loan to its Bulgarian subsidiary to partially finance the Project. -	Affordable goods: Modern retail distribution introduces efficiencies which enables low pricing at high quality standards. In Bulgaria, the share of modern retail in food is about half that of developed countries. With expected expansion in the second tier and smaller cities, the Project will promote access to affordable and high quality food products for lower income households.  -	Food safety: Modern retail formats contribute to food safety by improving supply chain efficiencies and reducing food wastage. Local procurements will encourage local producers to apply best practices in their production and operations, thus ensuring quality and safety.  -	Employment generation: The Project is expected to generate significant direct employment in the new stores, indirect employment in the supply chain as well as temporary employment during construction.  -	Green buildings: All new stores are expected to have energy efficiency features and showcase green building best practices, which will potentially have a demonstrational effect on local building standards.
Unionbank SME Bulgaria Unionbank is a comparatively small universal Bulgarian bank.  One of its major priorities is to provide support to the development of the local small and medium sized businesses (SMEs).  The bank provides SMEs  all over the country access to banking resources and has established a strong franchise in this market.  Unionbank''s loan portfolio as of year-end 2001 amounted to BGN 47 million (US$21 million equivalent) and is concentrated in the trade and manufacturing sectors. The bank is well capitalized with capital of BGN 30 million (US$14 million equivalent) and assets of BGN 122 million (US$55 million equivalent).      The project involves the extension of a credit line to Unionbank  to help extend the maturity of the bank''s funding base.  The credit line will be used as a source of medium term funding for the development of small business finance activities.      Bulgarias future economic growth will continue to be driven by the emerging SME sector which, according to government sources, already accounts for more than 50% of GDP.  Nevertheless, Bulgarian bank lending is heavily concentrated towards the large corporate and public sectors.  Small business lending has not been a feature of the banking business; this sector of the economy is underserved, and the availability of term finance for SMEs is scarce.   This facility critically addresses this gap.   The project is consistent with the World Bank Groups strategy of improving the efficiency of financial intermediation and in supporting the Bulgarian private sector.  IFCs support for this project will facilitate the growth of financial intermediaries dedicated to the development of a vibrant SME sector.
Sofia Airport Cn The proposed investment involves providing financing to support the privatization of the concession of Sofia International Airport located in Sofia, Bulgaria (the Project). Sofia Airport is the main international and the largest airport of Bulgaria with 7.1 million passengers in 2019. The Project involves imminent modernization investments and the building of a new terminal before the 10th concession year. Total investments over the 35-year concession period amount to EUR 608 million. The financing will be utilized to fund the upfront payment to the Government of Bulgaria (the GoB) due under the concession agreement and support the concessionaires initial capital expenditures to modernize and upgrade the strategic airport infrastructure in the country. The main project level impact is expected to include the improved access and quality of civil aviation services in Bulgaria. The Project contributes to the expansion of Sofia Airport's passenger and cargo handling capacity as well as ground service offerings which is expected to improve operational efficiency and the quality of services. Additionally, the Project is expected to increase the GDP, employment and government revenues through its economic linkages with the production and service sectors, and the payment of concession fees and taxes. IFC is supporting the first competitively tendered large-scale PPP project following the adoption of Bulgaria's Law on Concessions in 2018, which demonstration effects for potential additional public private partnership projects within Bulgaria and the region. The Project is also expected to help to improve the financial resilience of a strategic asset in the aviation sector in Bulgaria, in the context of an unprecedented shock caused by the COVID crisis.
St. George PV The proposed investment will support the development of the St George Solar Project (the Project), a 199 MW solar photovoltaic (PV) plant to be located near the town of Silistra in Northeastern Bulgaria.  The project will be developed by R-Engineering EOOD (the Company), an SPV established by Rezolv Energy (https://rezolv.energy/). Rezolv is an independent renewable energy producer focused on investments in renewables in the Eastern European energy market. It is wholly owned by Actis LLC. The project consists of the construction, operation, and maintenance of the solar plant. Construction work is expected to commence in mid-2024 and will take approximately 12 months. The plant is anticipated to be in operation for 35 years. The Project is expected to sell generated electricity through the Independent Bulgarian Power Exchange IBEX and under commercial PPAs.] The Project is expected to supply 319 GWh/year of low-cost renewable electricity in Bulgaria, equivalent to a 1.1% increase. It will also contribute to reducing CO2 emissions by 240,000 tons of CO2 equivalent per year by 2025 in a country where 40% of its generation stems from fossil fuels. At the market level, the Project is expected to enhance competitiveness by demonstrating the feasibility of large-scale merchant RE financing in a context where electricity generation remains state-dominated and private investments have faced uncertainty due to policy shifts. A successful implementation may generate replication, leading to more private investment in this space. It will also improve resilience by diversifying the energy mix away from fossil fuels while helping to reach Bulgarias RE targets.
Drujba A.D. Drujba A.D. (Drujba) is the result of the merger in April 2003 of Stind A.D. (Stind; located in Sofia) and Drujba (which originally consisted solely of a plant at Plovdiv, in southern Bulgaria), both of which have been owned by Yioula Glassworks S.A (Yioula), Greece, since their privatizations in 1997 and in 1998, respectively. In 2002, the combined sales of Drujba were Euro 46.9 million ($ 49.8 million) and net earnings amounted to Euro 5.4 million ($ 5.7 million).  

After the merger, the companys share of the Bulgarian market is about 72%. The combined capacity at the two plants (after full commissioning of the new furnace in early 2004) will be approximately 264,000 tons per year.  The merger of Drujbas original Plovdiv and Stind operations aimed at more efficient production planning, better capacity utilizations, and more efficient use of management time. Although the sponsor had sought the merger several years ago it was delayed due to lengthy regulatory requirements of Bulgarias State Securities Commission and various other regulatory agencies.

The proposed project is to refurbish and modernize the operations of an existing Bulgarian glass manufacturer, Drujba.  The project involves an investment in a modern 120,000 tpy natural gas fired furnace and related production lines at the companys plant in Plovdiv.   Capacity at the companys Sofia operation will not increase.
EPIQ/ELEX II EPIQ Group (the Group or the company) is a contract electronics manufacturer (CEM) focusing on the automotive industry.  The Groups 100% Bulgarian subsidiary, EPIQ Bulgaria, is an existing IFC client since 2001.  The proposed project is to finance partially the 2005-2007 expansion and working capital requirements of the Groups subsidiaries, in Bulgaria and Mexico, for a total project cost of 43.0 million.
PCBulgaria Loan ProCredit Bank A.D. (ProCredit or the bank), a fully licensed specialized financial institution providing credit and other financial services on commercial terms to micro and small enterprises (MSE) in Bulgaria, began operations in October 2001.  ProCredit Bank has established itself as a leader in providing credit and financial services to individual entrepreneurs, micro and small enterprises (MSEs) across Bulgaria.

The purpose of the IFC project (a EUR 10.0 million credit line) is to support ProCredits rapid and successful loan portfolio growth.
Karadzhalovo SPP The Project (Karadzhalovo SPP) involves the development, construction, operation and maintenance of a 60.4 MWp solar photovoltaic power plant at Karadzhalovo in the municipality of Parvomay, Plovdiv District, Bulgaria. All of the output generated by the Project will be sold to the national electricity company, Natsionalna Elektricheska Kompania EAD (NEK), a 100% subsidiary of the Ministry of Energy, Economy and Tourism under a 20-year PPA that will provide for a fixed Feed In Tariff (FiT), expected to be BGN 485.6/MWh (equivalent to 248.3/MWh). 1. Increasing Bulgaria''s renewable energy output, and helping the country meet its renewable energy targets, including by diversifying its renewable energy mix;  2. Associated displacement of thermal power, resulting in avoidance of carbon emissions;  3. Demonstration effect, showing the viability of financing a large SPP on a limited recourse basis, and proving the ongoing viability of the Bulgarian RE sector, given recent changes to the RE Law.
Bulgarian American Credit Bank II With assets and capital of about USD56 million equivalent and USD20 million equivalent respectively, BACB focuses on small and medium enterprises (SME) and mortgage lending.  The bank''s loan portfolio of about USD52 million equivalent consists of 75% SME loans and 25% mortgage loans.  BACB has been a leader in mortgage finance in Bulgaria.  The bank successfully spearheaded the effort to draft and enact the Mortgage Bond Law, and, in July, 2001, was the first bank to issue a mortgage bond, which has since been listed locally.    BACB has now asked for IFC''s financing for the proposed facility so as to support the growth of its mortgage finance business. The first part of the facility (Part A) would be a revolving line of credit to fund BACBs portfolio of mortgage loans until they are refinanced through the issuances of mortgage bonds. The second part (Part B) would be for IFCs participation in the banks mortgage bond issuances, in the form of either a subscription in or credit enhancement of a BACB mortgage bond.        The facility should enable BACB to expand the reach of its mortgage origination.  It is also envisioned that IFC participation in future BACB mortgage bonds would enable the bank to catalyze increased investor interest.  The venture should also enhance the availability and affordability of residential mortgages in Bulgaria, and have a positive financial markets impact, as the volume of mortgage bonds and OTC market trading grows.  Further, it would enable small entrepreneurs to use their home equity to secure small business (microfinance) loans, which are otherwise difficult to obtain.
Kronospan CEE-BG Financed by IFC, Kronospan Bulgaria produces melamine-faced particleboard (MFC) and oriented strand board (OSB) at two facilities in Bourgas and Veliko Tarnovo.  In the past three years, the company made investments of EUR50 million to upgrade particleboard production and environment equipment in Bourgas, establish a warehousing and distribution center in Sofia, and to acquire and rebuild a domestic particleboard company in Veliko Tarnovo.  These investments were bridge-financed by shareholders funds and internal cash generation and Kronospan is now looking to partially refinance them with the help of IFC.  This will allow Kronospan Bulgaria to position the company for growth when the economic situation improves. Climate Change Mitigation:  Climate change benefits include a corporate commitment by Kronospan to produce panel products from waste-wood chips, forest residues and pulpwood, and to stimulate growth of forests through sustainable forest management practices. 
Employment: The Project will help the continued operation of the plants in Bulgaria and preserve the jobs of approx. 300 people.
Benefits to Local SMEs: High volume production of value added products benefits the local furniture manufacturers and construction industry through lower prices and higher product quality.   
Demonstration Effect:  The success of the project during the ongoing financial crisis is likely to have a demonstration effect for similar investments by other global and regional companies.  This will encourage FDI, boosting confidence in the economy and the environment for private sector investment.
AHG Bulgaria Acibadem Healthcare Group (AHG or Acibadem or the Sponsor ) invited IFC to invest in Acibadem City Clinic B.V., a Special Purpose Vehicle (SPV or AHGB or the Company) established by AHG, its subsidiary Acibadem Sistina (Sistina) and several existing shareholders of City Clinic to acquire Tokuda Hospital in Sofia and to consolidate it with City Clinics operations in Sofia, Varna and Burgas creating the largest private hospital and clinic network in Bulgaria (the Project). The Project is expected to have the following development impacts: 
(i) South-south investment by Acibadem, a leading private healthcare network in Turkey will bring in operational knowhow and capital to the private healthcare sector in Bulgaria; 
(ii) Consolidation of private healthcare providers in Bulgaria with strong management is expected to unlock synergies and economies of scale bringing down costs and increasing of access to healthcare due to higher efficiency; 
(iii) The Project is expected to increase access to specialized services (oncology and cardiology) funded by the social health insurance but at a limited supply from public sector providers; 
(iv) Demonstration effect of creating the largest integrated private health network in Bulgaria will facilitate private sector investment in private healthcare providers in the country and in the region.
Trakya Bulgaria The project consists of the construction of a $100-110 million float glass plant in the town of Targovishte in the northwestern part of Bulgaria.  At full capacity, it is expected to produce 200,000 tons of clear float glass annually and employ 200 people.  Approximately 90,000 tons of this production will be exported to the nearby Balkan markets, particularly Greece and Romania, 20,000 tons in the domestic Bulgarian market, and the remainder within Turkey.
Stomana III Based in Pernik, Bulgaria, Stomana Industry S.A. (Stomana, or the Company) is a leading steel manufacturer in Southern Europe.  The Company has been present in the Balkan and international markets for more than 50 years, and produces a wide range of products, including reinforcing steel, heavy plates, merchant bars, special steels, special profiles and sections.In June 2001, Sidenor S.A. of Greece, acquired the Company from the Bulgarian State, and assumed responsibility for the overall operation.  The transition to the private sector, which constituted a turning point in the company's history, involved a major investment plan aiming at the modernization of the production facilities and the overall restructuring of the company.

The proposed project entails the strengthening of the Companys balance sheet by providing a long-term loan to more closely match the long-term nature of the Companys productive assets, as well as the support of Stomanas recent capital investments into machinery and equipment, including a recent purchase of a new electric arc furnace. - Countercyclical Support: The proposed transaction would provide durable financial support to a significant employer, exporter and tax payer in Bulgaria by supporting Stomana's efforts in the aftermath of the worst financial year in recent history for most steel-makers.
- Environmental and Financial Benefits: Part of the proposed IFC financing is aimed for the capital investments of Stomana.  The investment into the new Electric Arc Furnace (EAF) would bring forth better utilization of electric and natural gas consumption of Stomana.  This would create both environmental and financial benefits as soon as the new technology is installed and implemented.
Bulbank AD Project Bulbank was founded in 1964 and for over 25 years acted as the country''s foreign trade bank.  Following the economic transition of 1991, Bulbank was transformed into a full-service commercial bank and is now Bulgaria''s largest commercial bank, with total assets of USD 1.2 billion equivalent at June 30, 2000.   Bulbank has a nation-wide distribution network, strong name recognition, and client relationships with prominent Bulgarian enterprises, and increasingly, medium-sized private enterprises.    As such Bulbank has a strong platform for expansion of lending and the introduction of other products.    Bulbank is a high-profile bank in the Bulgarian economy. Its successful and transparent privatization was key to both the public''s comfort in the privatization process, and the impact of this important institution on the local economy.  With the leadership of UCI; its partnership with Allianz, one of the world''s largest insurers; and the support of IFC, Bulbank will seek to increase its lending to Bulgaria''s underserved business and retail sectors and to introduce new products, thus broadening and deepening the financial markets.  Further, given Bulbank''s importance to the Bulgarian financial sector and economy, UCI and the Government value IFC''s role as a bridge between the private and public sectors.
Kronospan Bulgaria II The project is to set up an Oriented Strand Board (OSB) line on existing premises at Bourgas, which would substitute a previously planned particleboard line and would further upgrade the existing facilities.     The project will double current production capacity, and further increase melamine-facing capacity.  The added new capacity will achieve economies of scale, which are critical for the industry.  The project is expected to boost margins, enhance the company''s competitive position in Southeastern Europe and provide strategic diversification.  In addition, the project will contribute to the modernization of the Bulgarian wood panel industry, which is currently characterized by inefficient, low-quality operations and will have a potential strong impact on the development of the industry in the country.   IFCs role in the proposed project is three-fold: (i) increase confidence in and support for the Governments privatization efforts; (ii) act as a catalyst for foreign investment and private sector participation in Bulgaria; and (iii) help the Sponsors gain access to long-term financing.
EPIQ/ELEX CEM The proposed project is to modernize and expand the current electronic components manufacturing, assembly, and testing operations of the production facilities of EPIQ-EA and XPEQT, (together "the company"). The project consists of: (i) significantly increasing the production capacity, and adding new technologies, for printed circuit board (PCB) assembly, complex electronic sub assemblies, and testing; (ii) introducing double color and wider application plastic injection moulding; (iii) enhancing the capacity and technical capability of the tooling sho  p ("the project").   The existing operations in Bulgaria are only the initial phase of a much larger project, and do not realize the full potential of the facilities in Bulgaria to meet the current market demand growth. The company would benefit significantly from the investment, which would   significantly broaden the technical scope and product range of the facilities   and enable it to further strengthen the Group (includes the ponsors, and their affiliated companies) position in the global contract electronic manufacturing (CEM) market.     EPIQ-EA is limited liability company, founded in 1997, registered in Botevgrad, Bulgaria with a share capital of 1,950,000 BGN, and wholly owned by EPIQ-NV, a public limited company registered in Tessenderlo, Belgium. Its production facility has 3,500 square meters production floor for module assembly and 1000 square meters for assembly, including clean room class 10000, and employs over 500 people. EPIQ EA is QS9000 (1999), VALEO 1000 (1998) and ISO 9002 (1998) certified.      XPEQT (formerly Sigma Delta - Bulgaria) is a limited liability company registered in September 2000 in Sofia, Bulgaria with an authorized share capital of 1,410,500 BGN. It is wholly owned by Sigma Delta Holding N.V. XPEQT specializes in manufacturing of test equipment, and in integrated circuit design and tool making.     IFCs role in the proposed project is three-fold: (i) increase confidence in and support for the Governments privatization efforts; (ii) act as a catalyst for foreign investment and private sector participation in Bulgaria; and (iii) help the Sponsors gain access to long-term financing.   By supporting a well managed Bulgarian production facility such as EPIQ EA, IFC would help encourage and enhance local production of high-tech devices in the electronic/semiconductor appliances manufacturing sector. The project is expected to generate significant number of new jobs along with having a spillover effect. Furthermore, it is envisaged that the appropriate terms and structuring of this investment would help encourage other lenders and investors to consider such other projects in Bulgaria. Another benefit of the proposed project to Bulgaria would be in the form of net foreign exchange earnings as the project is export oriented.
Pasa Bulgaria The proposed project is the construction of a green field glass tableware plant with an annual capacity of 53,000 tons in Targovishte, Bulgaria, at an estimated cost of $60 million.  The project, which is expected to be commissioned in  2005 and employ 500 employees in 8 production lines, is located 123 km from the port of Varna on the Black Sea and 313 km from Sofia.  It will sell 90% of its production in the Balkans, Central, Eastern, and Western Europe and 10% domestically.
Unionbank SME II The project involves the extension of a credit line of up to 5.0 million to Unionbank AD or the company, a private Bulgarian bank.  The facility will help extend the maturity of Unionbanks funding base and will be used as a source of medium term funding for the development of small business finance activities. Bulgarias SME sector accounts for more than 50% of GDP but remains underserved by the Bulgarian banking sector, which has traditionally focused on large corporate clients. This facility supports Unionbank in addressing this gap in the financial sector.
Advance Terrafund The proposed investment is to support the expansion of Advance Terrafund (ATERA), a company investing in agricultural land in Bulgaria promoting land consolidation. IFCs investment will enable the company to achieve its expansion plans. It will support the expansion of an innovative asset class that will have significant benefits by providing a private sector solution to the urgent need for consolidation of agricultural land in Bulgaria and further support the development of the real estate and farming markets. Farmland consolidation is expected to create opportunities for investment and growth of efficient, modern farming companies, which, in turn are key to a competitive Bulgarian agriculture.