EBRD Backs Sustainable Growth of Bulgarian Protein Bar Producer

The European Bank for Reconstruction and Development (EBRD) has joined forces with UniCredit Bulbank to support the sustainable expansion of Healthy Bars, a leading protein bar manufacturer in Bulgaria. This partnership is set to drive the company’s growth while advancing its environmental goals.

As part of this collaboration, the EBRD is participating in a €14.8 million senior secured loan provided by UniCredit Bulbank. Through an unfunded risk participation agreement, the EBRD is guaranteeing up to €5 million of the loan. The financing will enable Healthy Bars to construct its first green production facility and invest in eco-friendly equipment, significantly increasing its production capacity by threefold.

In addition, the EBRD is helping Healthy Bars enhance its sustainability initiatives through its Green Innovation Programme, funded by the European Union (EU) under Horizon 2020. This programme includes:

• A €0.9 million grant to support the adoption of cutting-edge climate technologies.
• Up to €75,000 in technical assistance to develop a comprehensive climate change and sustainability strategy. This will involve cost-benefit analyses of green projects, emissions tracking, and benchmarking against industry standards.

To further strengthen its organisational capabilities, Healthy Bars is also benefiting from the EBRD’s EU-supported Advice for Small Businesses programme, which focuses on fostering organisational culture and boosting employee engagement.

Manuela Naessl, Head of EBRD Bulgaria, highlighted the significance of the partnership: “We are proud to support Healthy Bars as they embrace sustainable and innovative practices. This collaboration demonstrates how blended concessional finance can bridge affordability gaps and enable small and medium-sized enterprises to adopt advanced, cleaner technologies.”

The EBRD’s Green Innovation Programme is available to businesses in Bulgaria, Latvia, and Romania. It promotes green innovation by funding the development of eco-friendly products, technologies, and business models aimed at combating climate change, reducing pollution, and advancing the circular economy.

Established in 2015, Healthy Bars is an innovative Bulgarian company specialising in protein bars designed for active lifestyles. Initially focusing on its own brand in Bulgaria, Southeastern Europe, and the Middle East, the company has since expanded into the EU and now creates private-label products for international partners. Sustainability and innovation remain at the core of Healthy Bars’ growth strategy.

This collaboration underscores the EBRD’s commitment to fostering sustainable development and supporting small and medium-sized enterprises in adopting innovative, eco-conscious solutions.