site.btaLow-interest Loans to be Available to Hotel, Restaurant Sector from Bulgarian Development Bank
ESD 13:12:31 07-02-2022
ZH1309ES.114
114 ECONOMY-BANK-SUPPORT TO TOURISM
Low-interest Loans to be Available to
Hotel, Restaurant Sector from
Bulgarian Development Bank
Varna, on the Black Sea, February 7 (BTA) - The Bulgarian Development Bank (BDB) will support hotel and restaurant owners with low-interest loans, BDB Executive Director Vladimir Georgiev said on Monday. Georgiev and the Chairman of the parliamentary Tourism Committee, Ilin Dimitrov, presented a 40-million-leva programme for support to the sector during a meeting with tourist business representatives from the Northern Black Sea area in the Golden Sands resort near Varna.
Georgiev said the aim is to make the loans as affordable as possible and to design them in such a way so as to cover as many opportunities and needs of the sector as possible. Under the programme, hotel owners will be able to apply for loans of up to 750,000 leva, and restaurateurs, for loans of up to 500,000 leva. The grace periods will be 18 months and 12 months, respectively. The interest will depend on the borrower's credit rating.
Georgiev noted that the new management of BDB will work towards shifting the focus of support to small and medium-sized businesses. Before the appointment of BDB's current board of directors it was found that nearly 80 per cent of the bank's loan portfolio, or about two billion leva, had gone in the hands of a few big borrowers. RY/ZH
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ZH1309ES.114
114 ECONOMY-BANK-SUPPORT TO TOURISM
Low-interest Loans to be Available to
Hotel, Restaurant Sector from
Bulgarian Development Bank
Varna, on the Black Sea, February 7 (BTA) - The Bulgarian Development Bank (BDB) will support hotel and restaurant owners with low-interest loans, BDB Executive Director Vladimir Georgiev said on Monday. Georgiev and the Chairman of the parliamentary Tourism Committee, Ilin Dimitrov, presented a 40-million-leva programme for support to the sector during a meeting with tourist business representatives from the Northern Black Sea area in the Golden Sands resort near Varna.
Georgiev said the aim is to make the loans as affordable as possible and to design them in such a way so as to cover as many opportunities and needs of the sector as possible. Under the programme, hotel owners will be able to apply for loans of up to 750,000 leva, and restaurateurs, for loans of up to 500,000 leva. The grace periods will be 18 months and 12 months, respectively. The interest will depend on the borrower's credit rating.
Georgiev noted that the new management of BDB will work towards shifting the focus of support to small and medium-sized businesses. Before the appointment of BDB's current board of directors it was found that nearly 80 per cent of the bank's loan portfolio, or about two billion leva, had gone in the hands of a few big borrowers. RY/ZH
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