Starting budget: up to BGN 15 million / EUR 7.66 million

Target group of borrowers: Mutual credit cooperatives of farmers registered as financial institutions in the public register under Article 3a of the Credit Institutions Act.

Purpose and objectives: Provision of investment and working capital finance to farmers who are members of mutual credit cooperatives for agriculture and/or rural development and/or fisheries and aquaculture and carrying out related and ancillary activities with them

Maximum loan amount: BGN 3 million / EUR 1,53 million

Duration: Up to 10 years

Interest rate: Cost of borrowing under the program: 6M EURIBOR + 2,5 % (250 b.p.) per annum, but not less than 2,5 % (250 b.p.), calculated on an Actual/360 basis.

Under the Program, private farmers' mutual credit cooperatives registered with the BNB may apply for a loan from the BNB, which they will then have to use for targeted follow-up financing of the business activities of their private farmer and farmer members, at attractive terms and low interest rates set by the BNB.

More details on the program can be found here