New BDB program with guarantee from the Pan-European Guarantee Fund
Business : Creative : StartUP
BDB New Program
BDB is introducing three new niche products to the Bulgarian market, targeting small and medium-sized businesses, the creative industries sector and manufacturing start-ups. The 40 million Euro program is in partnership with the Pan-European Fund and it will enable the Bank to grant direct loans on even more lenient terms
Pan-European Guarantee Fund
The European Guarantee Fund is created as part of the overall package of measures agreed by the EU and the EIB Group to mitigate the economic impact of the COVID-19 pandemic. Its final beneficiaries are mainly small and medium-sized businesses throughout the EU and public enterprises providing essential services such as healthcare, medical research, etc. Total funding is expected to reach €200 billion.
The Bulgarian Development Bank Group has been approved as financial intermediary for the Fund's guarantee program, under which the Bank’s new products are created.