10.08.2023 BDB disbursed the first 10 loans under the Accelerated EU Funding Absorption Facility

Two months after the official launch of the Accelerated EU Funding Absorption Facility, the Bulgarian Development Bank has already disbursed 10 loans under it. The total value of the granted financing is BGN 6.3 million.

The companies that have received support for the implementation of their projects under the National Recovery and Resilience Plan and the European Structural and Investment Funds operate in sectors such as information technology, production of chemical products, metal processing, agriculture, recycling of electrical equipment, etc.

Loans are being negotiated for six more Bulgarian companies worth around BGN 10 million.

The first credit programme of the state-owned bank, developed entirely in sync with the business, was launched in early June. Through it, BDB provides access to resources for the implementation of projects under European and national programmes, facilitating companies facing difficulties to start their activities due to lack of bridge or complementary financing.

BDB provides investment loans of up to BGN 5 million with a repayment period of up to 8 years and a grace period of up to 2 years for companies applying for grants under national and European programmes. Companies can also benefit from an unsecured working capital loan of up to BGN 200 thousand in addition to the investment funds. The terms of both loans are preferential.

The Bank provides financing for the full cost of the projects (100%) to the already approved applicants, and up to 85% of the costs for those who have not yet signed their grant agreements.