26.04.2023 BDB Microfinance and the European Investment Fund signed an agreement under the InvestEU programme to support micro-enterprises

BDB Microfinance, part of the Bulgarian Development Bank Group, continues its successful partnership with the European Investment Fund (EIF). The company signed a guarantee agreement with the Fund under the InvestEU programme, which will provide additional support for the establishment and development of micro- and small businesses in our country.

BDB Microfinancing will grant loans of up to EUR 50,000 or their BGN equivalent for start-up and micro-enterprises operating in Bulgaria.

Thanks to EIF’s guarantee, the support provided does not require the provision of material collateral but only personal guarantees from the owners of the companies. BDB Microfinancing will include transactions in the guarantee portfolio within a period of 3 years after the conclusion of the agreement with the Fund.

The Bulgarian Development Bank has been a shareholder in the European Investment Fund since 2003, when the first guarantee agreement was signed between them.

The BDB Group has several successful joint programmes with the Fund under the initiatives MAP, Easi, Progress, COSME/Juncker Plan, Pan-European Guarantee Fund (EGF), as well as participation in the SIA (Social Impact Accelerator) Initiative.

EIF's majority shareholders are EIB with 59.8% of the capital and the EU, represented by the European Commission, with 29.7%. The minority share of 10.5% is held by 38 public and private financial institutions in the EU, United Kingdom and Turkey, including BDB