EIB Backs Agria Group’s €75m Sunflower Oil Project in Bulgaria with €35m Loan
Securing a €35 million loan agreement with Kristera AD, a subsidiary of Agria Group Holding, the European Investment Bank (EIB) is co-financing the construction of a new sunflower oil processing facility and the procurement of railcars for edible oil transport in northern Bulgaria. This financial endorsement is a fraction of the InvestEU programme, a €372 billion scheme designed to spur investments across Europe from 2021 to 2027, with an emphasis on green transition, competitiveness, and sustainable infrastructure.
Strengthening Bulgarian Agriculture
The EIB’s investment in Agria Group Holding, an eminent Bulgarian grain producer and dealer, aims to augment the company’s sunflower seed yield, refine access to export markets, and catalyze regional progression. A project costing roughly €75 million in total, it is projected to generate employment, foster sustainability, and fortify rural resilience.
Green Technology at the Forefront
The forthcoming sunflower oil processing plant in Popovo will employ green technology, contributing to climate action by generating renewable energy from sunflower seed hulls. The project also encompasses the procurement of railcars to convey oil to Varna port, thereby curtailing greenhouse gas emissions relative to road transport.
Mobilizing Substantial Investment
EIB Vice-President Kyriacos Kakouris underscored the agreement’s part in promoting sustainable economic growth in less developed EU regions. Agria Group Holding CEO Emil Raykov stressed the project’s importance in terms of the company’s diversification, regional economic impact, and logistics optimization. With a €26.2 billion EU budget guarantee, the InvestEU programme, comprising the InvestEU Fund, Advisory Hub, and Portal, is set to back projects that mobilize substantial investment.
