News from 25-04-2013

SME financing agreement between BDB and the International Investment Bank


Bulgarian Development Bank (BDB) was granted a EUR 20 million loan from the International Investment Bank (IIB) for the financing of small and medium-sized enterprises (SMEs) in Bulgaria.

The funding is provided for a period of 7 years and can be used for direct lending to Bulgarian SMEs, as well as for financing of programs supporting SME business, implemented by commercial banks.

The loan, provided by IIB is the first approved for Bulgaria under the new credit policy of the International Investment Bank. In November 2012 the Council of IIB approved its new strategy, which aims to improve the partnership with the development banks of the IIB’s member states. 

The loan facility is the first step of a fruitful cooperation between BDB and IIB in support of the Bulgarian entrepreneurs. Following the official signing of the agreement, the two financial institutions outlined the possible ways of partnership and concrete forms for their implementation.

About the IIB

The International Investment Bank was founded in 1970. The Bank is an intergovernmental organisation and is registered with the Secretariat of the United Nations. Members of the institution are Bulgaria (co-founder), Russia, Romania, Slovakia, Czech Republic, Vietnam, Cuba and Mongolia. The main activity of the Bank is to provide commercially oriented medium and long term loans for the implementation of joint investment projects and programs to finance the construction of national projects.

Source: BDB