01.03.2023 Assoc. Prof. Rosen Karadimov, PhD: BDB will consult with businesses for offering adequate financing

"The Bulgarian Development Bank and the nationally representative employers' organizations will jointly develop financial products to help businesses. This is the main objective for the establishment of an Advisory Board of the Bank." This was announced in the "More from the Day" program on BNT by Assoc. Prof. Rosen Karadimov, PhD, BDB Supervisory Board Chairman, on whose initiative the new body was created.

At the founding meeting of the Advisory Board two main topics were discussed: the implementation of a direct information channel on the Bank's financial programs to business structures and the possibility for new financial products to be consulted as early as at planning level. "New programs to support small and medium-sized businesses are currently being developed at the Bank. The associations will focus the Bank's attention on the current needs of businesses and provide feedback on the effectiveness of the products", said BDB Supervisory Board Chairman, who also heads the new advisory body. The lending limits set by BDB remain unchanged.

Rosen Karadimov also shared his desire for the Advisory Board to grow into a public body under the Bank's Supervisory Board, which, in addition to employers' organizations, would include national trade unions and the National Association of Municipalities in the Republic of Bulgaria (NAMRB). "This will allow achieving real public control over the Bank's activities," Karadimov said. He recalled that BDB’s task is not only direct lending, but the creation of an environment to support small and medium-sized businesses. Its objective, as laid down in the BDB Act, is also to overcome regional imbalances and support state policies in major projects. "These components are directly related to employment, living standards, and regional imbalances," Rosen Karadimov underlined.

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