The Bulgarian Development Bank (BDB) will grant 100 millions Leva for the funding of agricultural producers and farmers. The resources shall be given in the form of targeted credit lines by the Bulgarian commercial banks. The credit line cannot be bigger than 25 millions.
So far 12 Bulgarian banks have expressed interest in receiving the targeted credit line. Agreements have been concluded with eight of them. The total amount of the resources, given in accordance with the agreements concluded with the commercial bank is 33 millions Leva.
Through the targeted funds the banks shall be able to give working credits to farmers in very attractive conditions. The loans shall not be bigger than 500 000 Leva and the interest shall be fixed throughout the whole term of the credit up to 7.5%. The credit servicing term is 18 months.
