The European Investment Bank (EIB), the EU’s long-term financing institution, has approved a €50 million loan to co-finance a new grain terminal in northern Bulgaria.
The new facility at the Black Sea port of Varna will provide a modern system for grain storage and transportation in the region.
This is the first EIB transaction in Bulgaria in which a private company is benefiting from the support of the InvestEU guarantee.
The InvestEU programme allows for investment for EU policy priorities such as the green transition, including support for sustainable infrastructure.
Bulgaria
The terminal will be developed and operated by Logistic Centre Varna, a subsidiary of the Buildcom Group, a privately held Bulgarian agri-business group.
Buildcom is one of the country’s largest traders of grains and fertilisers with over 2 million tonnes of grains and oilseeds purchased annually.
The group holds about 20% market share of Bulgarian grain exports.
It also operates three sunflower-oil-producing plants and is the leading sunflower oil and sunflower meal producer in Bulgaria with more than half of the market.
The new grain terminal is expected to become operational in the second quarter of 2026 and consists of a new quay, a silo and other storage facilities, as well as a new railway and road access.
EIB said that the loan agreement demonstrates its commitment to support food security and sustainable regional development.
“The financing affirms our commitment to support Bulgarian business in modernising and expanding their operations in a sustainable way, contributing to the country’s regional and economic development and increasing its competitiveness,” Lilyana Pavlova, EIB vice-president, said.
Julian Stefanov, chief executive officer of Logistic Centre Varna, added: “With its modern facilities, the new terminal will provide local grain producers with an efficient and price-competitive access to the liquid international markets.
“It will be an important gateway for Bulgarian grain exports and will increase the country’s competitiveness in maritime transportation.”
The project will also have a positive impact on the environment, supporting a shift from road to less carbon intensive rail and maritime transport.
This will reduce greenhouse gas (GHG) emissions in transporting agricultural commodities to the regions and destinations in most need to mitigate food insecurity.