Bulgarian Development Bank (BDB) will support Bulgarian importers of agricultural products from U.S. This became possible after Bulgarian financial institution is approval as a partner-bank under the Export Credit Guarantee Program (GSM-102) of the Commodity Credit Corporation to the United States Agricultural Department.
The program targets to Bulgarian importers of agricultural products from the USA. The purpose is to facilitate their transactions with American companies. The Program GSM-102 provides refinancing to BDB from American partner–banks with maturity of up to 2 years with a limit of the guaranteed payments under the provided refinancing of up to 20 million USD. The payment method is through letter of credit opened under the export transaction.
The support covers trade transactions with raw and processed agricultural production as well as for food products transactions with high added value. Bulgaria is included in the window of the GSM-102 Program for South Eastern Balkans: Romania, Moldova, Albania and Macedonia. BDB is the second approved financial intermediary in the country.
