Bulgarian Banks to Distribute BGN 71 M in Business Credits

Finance | April 23, 2010, Friday // 20:02|  views

The BDB credit lines have provided BGN 455 M in loans to Bulgarian businesses over the past year. Photo by politika.bg

A total of BGN 71 M are available for business credits from Bulgarian banks under a credit line provided by the Bulgarian Development Bank (BDB).

This has been announced by the BDB Director, Angel Gekov, who reminded that the state development bank had already allocated a total of BGN 455 M to commercial banks for business credits.

Thus, the sum of BGN 71 M comes from loans which have already been returned by Bulgarian businesses are now available once again.

“Most of the loans were actually repaid by agricultural producers. Apparently, there are already a number of very good projects which receive outside funding,” Gekov said.

About BGN 39 M of the total sum of BGN 71 M are for funding investments; the remaining BGN 32 M are for set for agricultural producers.

A total of 1 300 loans have been granted by Bulgarian commercial banks under the credit line provided by the BDB over the last year. About 20% of the total amount of BGN 455 M has gone to agricultural producers and farms, most of the rest of the money has been loaned to small and medium-sized enterprises.

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Tags: Bulgarian Development Bank, BDB, credit, agricultural producers


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