site.btaSome 12,000 Companies Supported Financially by National Guarantee Fund

The National Guarantee Fund (NGF), part of the Bulgarian Development Bank Group (BDB), has supported financially some 12,000 Bulgarian companies, issuing guarantees worth BGN 1.2 billion, according to the statistics of the Fund, which marks its 15th anniversary, BDB said in a press release on Wednesday. 

One in five companies in Bulgaria has received financing from commercial banks thanks to the NGF. The Fund's primary objective is to help commercial banks lend to small and medium businesses by sharing credit risk. It has also helped create nearly 20,000 new jobs through its activities.

Since its establishment, the NGF has developed nine guarantee schemes implemented in partnership with 21 commercial banks. Through these, it has provided over BGN 3.3 billion in guaranteed loans to businesses, multiplying 40 times the public resource, BDB also said.

A total of 65% of the supported companies operate in trade, manufacturing and agriculture, followed by those in transport (12%) and construction (7%).