PROGRAMME OBJECTIVE
Promotion of the economic cooperation between Japan and the Republic of Bulgaria.
GENERAL REQUIREMENTS TO APPLICANTS
Companies registered in the country which meet the criteria for small and medium-sized enterprises pursuant to the Act on Small and Medium-Sized Enterprises.
INVESTMENTS ELIGIBLE FOR FINANCING
Any high productivity, economically sound, environmental and socially significant investment in all sectors and branches of the economy of Bulgaria established through delivery of equipment and services manufactured and received from Japan.
INVESTMENTS NON-ELIGIBLE FOR FINANCING:
• Arms and products for direct military use;
• Nuclear power stations;
• Consumer goods, including durable goods;
• Personal motor vehicle;
• Passenger cars, vans, trucks and special cars for personal use;
• Ships of 100 г.р.т. or tow boats of 500 BHP or more;
• Raw materials and interim goods with a low added value (working capital)
• Import duties, fees, etc. (working capital)
PARTICIPATION OF BORROWER
The amount of participation of the borrower should be minimum 15% of the amount of the import payable in advance to the Japanese manufacturer or its representative.
AMOUNT OF LOANS
The minimum amount of the contract for importing Japanese-made equipment eligible for financing is EUR 200 000.
LOAN CONDITIONS
Term of repayment up to 8.5 years.
Grace period - negotiated individually for each project and taking into consideration the latest date of delivery and the time necessary for launching the equipment into operation.
Interest rate - depending on the risks of the project and the term of return on the investment.
Interest on the loan is due monthly.
The repayment of the principal begins after the grace period and is negotiated individually with each borrower.
COLLATERAL
The collateral is in accordance with the banking legislation.
Under certain conditions the bank extends loans under relieved requirements for collateral (up to 85% of the amount of the loan) owing to a guarantee issued by the European Investment Fund under the multi-year programme for small and medium-sized enterprises of the European Community.
Assets that are subject of the investment project are also acceptable as collateral of the loan
