The Administrative Council of the Council of Europe Development Bank has approved a new credit line in the amount of EUR 20 million to the Bulgarian Development Bank (BDB). 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 traditional partner of BDB. Until now the Bulgarian state-owned bank has successfully utilized two credit lines in the amount of 30 million euro.
The Bulgarian Development Bank is state-owned financial institution with a majority owner the Ministry of Finance. Up to now BDB has attracted more than half a billion leva in credit and guarantee lines from foreign financial institutions without state guarantee.
