site.btaEuropean Investment Bank, Bulgarian Development Bank Sign Financial Agreement for EUR 175 Mln

A EUR 175 million financing agreement was signed between the European Investment Bank (EIB) and the Bulgarian Development Bank (BDB). EIB Vice President Liliyana Pavlova and BDB Executive Director Tsanko Arabadzhiev signed the agreement at a ceremony on Thursday at the Council of Ministers.

The ceremony also included the signing of a guarantee agreement between the BDB and the European Investment Fund under the InvestEU programme for the development of innovation, digitalization and application of green technologies in Bulgaria.

"This event is of great importance for Bulgarian small and medium-sized businesses. For 24 years, the BDB has provided support to over 24,000 enterprises through various financial instruments, with resources of over BGN 7.3 billion," said BDB Board Chair Iliya Karanikolov.

"The agreement we are signing today is a natural extension of over 20 years of cooperation with the EIB. It is yet another proof that the European institutions see the Bank as a reliable, predictable and trustworthy partner," he added.

The event was also attended by Innovation Minister Milena Stoycheva, Finance Minister Assen Vassilev, as well as members of the BDB Board.