12.09.2022 As a development bank, BDB will support the implementation of the Recovery and Resilience Plan for Bulgarian businesses

Energy efficiency loans, working capital and investments for SMEs, as well as programmes for technological modernization and renewable energy, were presented by the BDB’s CEO, Tsanko Arabadzhiev, at the "Big Money for Small Businesses: Financing Opportunities under the Recovery and Resilience Plan" information meeting organized by the Bulgarian Small and Medium Enterprises Promotion Agency.

The first open procedure of the Recovery and Resilience Plan (RRP) – "Technological Modernization" with a budget of 260 million BGN was presented there. The event was opened by Atanas Pekanov, Deputy Prime Minister for EU Funds Management, and Alexander Pulev, Minister of Innovation and Growth, and was held with the participation of Iliana Ilieva, Director of DG "European Funds for Competitiveness".

According to the forecasts of the Banking Association, the European Recovery and Resilience Plan will be successfully implemented with an active role of lending institutions that will allow to meet the demand for new investments, transformation and digital transition and business growth. EU development banks will play an important role in this.

"As a development bank, BDB has a long track record of supporting and developing Bulgarian businesses, providing support at a time when they are most in need of liquidity and financing. One of the examples of this is the Bank’s COVID programme, which supported over 2,000 small and medium-sized enterprises," said Tsanko Arabadzhiev.

Our new programme, SME Energy Efficiency, also aims to support businesses in Bulgaria in their transition to a green and low-carbon economy. They will be able to benefit from bridge loans of up to BGN 500,000 even before they have signed their OPIC grant contracts, Arabadzhiev added.

Fitch confirms BBB rating for BDB with a positive outlook

International rating agency Fitch Ratings has confirmed the Bulgarian Development Bank’s long-term credit rating as BBB with a positive outlook. The Bank's rating is equivalent to the rating for the Republic of Bulgaria and is essentially the highest possible rating for the national development bank.

The rating is based on BDB's strong capital position, high probability and availability of fiscal space for support from the owner – the Bulgarian state, stable funding from international financial institutions, deposits from the state, state-owned entities and enterprises, as well as maintained high liquidity.