Bulgarian Development Bank (BDB) received EUR 20 million loan from Council of Europe Development Bank (CEB). This is the fourthly Agreement between the two banks and it’s a result of their good cooperation and partnership. The Agreement has been signed by the Executive Directors of BDB – Dimitar Dimitrov and Sasho Tchakalski, and by Imre Tarafas – Vice-Governor of CEB.
The purpose is to improve the access to financing of investment projects of micro, small and medium – sized enterprises, with the aim to create new and to preserve the existing jobs.
BDB will allocate the financial resource in the amount of EUR 20 million for the already existing programs. The funds will reach the Bulgarian business through direct investment loans.
The Council of Europe Development Bank is a strategic and a traditional partner of BDB. Until now the Bulgarian state-owned bank has successfully utilized three credit lines, two in 2003 – with total value of EUR 15 million and one credit line in 2009 –with value of EUR 15 million. Due to those loans 2545 new jobs were created.
Bulgarian Development Bank is state-owned financial institution with a majority holder the Ministry of Finance. Up to now BDB has attracted more than a half billion leva in credit and guarantee lines from foreign financial institutions without state guarantee.
