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The European Investment Bank (EIB) said on Friday it will expand support of small- and medium-sized enterprises in Bulgaria by providing a EUR 15 million loan to ProCredit Bank Bulgaria, a unit of Germany’s ProCredit Holding.

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A significant part of the intermediated loans, 40%, is dedicated to projects with a climate action component, in the fields of renewable energy, energy efficiency, low carbon transport and waste management, the EIB said in a statement.

The loan is intended for Bulgarian companies with fewer than 3,000 employees, which will benefit from better access to long-term financing provided at favorable terms. The loan is the third operation with ProCredit in Bulgaria, EIB said.