The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of FitSpo Nutrition OOD, a Bulgarian producer of functional food products, through a risk-sharing agreement with UniCredit Bulbank. Under the arrangement, UniCredit Bulbank is providing €5.3 million in long-term financing, while the EBRD is sharing the risk on up to €2.7 million of the loan through its Risk Sharing Facility. This structure is designed to improve access to sustainable financing for a growing local enterprise.
The funding will enable FitSpo to expand and modernise its production facilities in Bulgaria. The investment programme includes the installation of a fully automated production line, a high-efficiency packaging line, and related equipment, as well as the development of a new innovative green production facility. Once completed, the project is expected to double the company’s annual production capacity, allowing it to meet increasing demand in both domestic and export markets.
FitSpo manufactures a variety of functional food products, including protein bars, protein cookies, whey protein powder, flapjack bars and raw vegan snacks. Its products are distributed through major retail chains in Bulgaria and exported to several international markets, positioning the company as a growing player in the health-focused food sector.
The project is further supported by a grant of up to €750,000 under the EBRD Green Innovation Programme, funded by the European Union’s Horizon 2020 initiative. The grant will facilitate the adoption of innovative climate technologies and best-available equipment, helping the company overcome financial barriers associated with advanced green investments.
Environmental benefits are expected to be substantial. The investment aims to reduce energy consumption, lower carbon dioxide emissions, minimise waste generation and improve overall production efficiency. Estimated annual impacts include energy savings of nearly 96,000 kWh and the reduction of more than 40 tonnes of CO₂ emissions, along with decreased raw material use and packaging waste.
Through its Risk Sharing Facility, the EBRD partners with local banks to share loan risks and expand financing opportunities for businesses, particularly small and medium-sized enterprises pursuing green and innovative projects. Since beginning operations in Bulgaria in 1991, the EBRD has invested €5 billion in 318 projects, with a strong emphasis on private-sector development, competitiveness and the transition to a green economy.
