Bulgarian Development Bank AD (BDB AD) will provide loans with annual interest rate of up to 7% to approved projects under the Rural Development Areas Program (RDAP). The above will also apply to investment programs of the State Fund Agriculture (SFA).
This became possible after BDB AD and SFA have signed an agreement for refinancing of projects with State Fund Agriculture’s funds under the RDAP as well as an annex to the contract dated April 2002 for the refinancing of projects under investment programs of the Fund.
The preferential interest rates will enable more beneficiaries to receive access to financing for the implementation of already approved projects under the RDAP and investment programs of the Fund. The applicants may benefit from the aforementioned conditions of the funding by December 31, 2013 at the latest, when the RDAP program period expires.
BDB AD will finance up to 100% of the approved investment expenses under contracts between beneficiaries and State Fund Agriculture for the implementation of projects under the RDAP. The maximum amount of the loan shall not exceed BGN 500 000. The repayment period shall be up to 60 months. Penalty interests shall not be charged in case of an early prepayment.
