Industrial and Commercial Bank of China
In November 2015 Bulgarian Development Bank and Industrial and Commercial Bank of China signed a Memorandum of Understanding during the Fourth meeting of the Heads of Government of China and the countries of Central and Eastern Europe, which was held in the Chinese city of Suzhou.
In February 2016 BDB signed an Interbank loan agreement with China Development Bank in the amount of EUR 20 million. The funds shall be used for general lending activity of BDB, direct financing or on-lending programs through commercial banks for the support of investment projects and providing working capital.
In March 2020 BDB signed a new financial agreement with the European subsidiaries of the Industrial and Commercial Bank of China (ICBC) amounting to EUR 75,000 thousand. The funds can finance the general lending activity of BDB, in the form of direct financing as well as on-lending through Bulgarian financial institutions, for investment projects and working capital. The financing is jointly provided by ICBC Austria and ICBC Europe – Poland. The loan is unsecured.
