Bulgarian Development Bank was established after the adoption of a special Act by the Parliament of the Republic of Bulgaria in April 2008.
For the performance of its tasks and objectives, Bulgarian Development Bank shall establish a bank group of its own, which will comprise:
• Bulgarian Development Bank (BDB)
• National Guarantee Fund (NGF)
• Capital Investment Fund (CIF)
The activity of the Bulgarian Development Bank and its group is regulated by the Act on the Bulgarian Development Bank.
The principles of Bulgarian Development Bank shall be:
• improvement, stimulation and development of overall economic, export and technological potential of small and medium-sized enterprises by facilitating their access to financing;
• acquisition and management of mid-term and long-term local and foreign resources necessary for realisation of the country's economic development;
• application of schemes and instruments for financing of public investments and projects which have priority in the country's economy;
• acquisition of funds and management of projects from international financial and other institutions;
• acquisition of funds and providing financing for the purpose of minimising regional imbalances in the country.
Sources of funding of the Bulgarian Development Bank are:
• Loans and credit lines from international and domestic institutions
• Development funds from international and domestic organizations, i.e. EU (structural funds)
• Bond issues
• Attracting corporate deposits
Principles of operation of the Bulgarian Development Bank:
• Good practice