The Bulgarian Development Bank will grant 500 millions Leva to the commercial banks in the country in 2009 to fund small and medium enterprises. The credit lines are part of the governmental measures package called “Market Flexibility”, intended to minimise the global financial crisis impact over the Bulgarian economy.
250 millions Leva from the total amount have been contracted with 13 banks in order to provide middle and long-term investment crediting, pre-export funding and support for projects from the EU structural funds. The credit line of a single bank is up to 20 millions Leva and shall be given for a 10-years term with up to 5 years free period. Within these credit lines, the commercial banks may grant loans, no bigger than 2 millions Leva to the small and medium enterprises.
100 millions Leva have been provided for funding of agricultural producers. The credit line’s biggest amount for a single bank is 25 millions Leva. The banks can use the targeted resources to give working credits to the farmers. The maximum amount of the credits will be up to 500 000 Leva. 12 banks have already expressed interest in receiving resources.
72 millions Leva were provided for security schemes.
