site.btaNew Government Programme Worth Lv 2.5 Bln to Support Businesses

Sofia, June 22 (BTA) - Under a new programme, called Vazrazhdane
 (Revival), the government is making 2.5 billion leva in capital
 available to corporate beneficiaries, Finance Minister Asen
Vassilev told journalists on Tuesday, presenting the new
facility together with Economy Minister Kiril Petkov.

"I am glad we will work with banks which know their clients
well," Vassilev said. Under the Vazrazhdane Programme,
businesses may receive money for use as operating capital or
investments. The programme does not have to be notified by the
European Commission, Vassilev said.

The government will share in covering the systemic risk. It will
 cover 80 per cent of the credit exposure.

Loans will be issued at market-level interest rates with a
12-month grace period. According to Petkov, the lack of a loan
repayment security requirement is beneficial for the companies.
The amount of money to be provided to a borrower may be up to 70
 per cent of the company's turnover in 2019 or 2020, or up to 3
million leva. RI/VE