site.btaBulgarian Development Bank Has Supported 27,333 Businesses Since 1999

The Bulgarian Development Bank (BDB) Group has supported 27, 333 micro, small and medium enterprises since its establishment in 1999, the bank said on Monday, adding that this amounts to about 1,100 companies per year.

The bank's capital of BGN 1.2 billion has been multiplied many times and has led to the provision and disbursement of BGN 7.4 billion in financing for Bulgarian businesses, including under special government mandates. The bank has 22 international partners, from which it has received funds amounting to BGN 2.47 billion over the years.

The BDB is the only bank in the country that, in addition to direct financing, also provides resources through other lending institutions. It is reported that the amount of indirect loans under the so-called on-lending programmes is BGN 1.61 billion, and with the risk-sharing guarantee programmes the commercial banks have granted loans to businesses worth BGN 3.6 billion.

The BDB said that in 2023 the two-year process of the bank's accreditation by the European Commission ended, adding that it becomes the only institution in the country that is an implementing partner of the Commission in Bulgaria under the InvestEU programme. The Bank also signed a contract with the European Investment Bank worth BGN 350 million to improve access to finance, promote employment and accelerate the environmental transition of small and medium-sized enterprises in the country.