21.02.2024 Ivan Tserovski attended the forum “Attracting investments and financing – opportunities for the municipalities”

“For its quarter-century experience, the Bulgarian Development Bank has supported more than 26 thousand companies for a total of BGN 7.3 billion. Our mission is to be as close as possible to the small and medium-sized businesses and help them grow”, said the bank’s Executive Director Ivan Tserovski during the forum “Attracting investments and financing – opportunities for the municipalities”.

The event was held in Sofia Tech Park and was organized by Invest Bulgaria Agency, with the assistance of the Ministry of Innovation and Growth. Its purpose is to create a coordinated cooperation between the local governments and the structures of the Ministry of Innovation and Growth for the implementation of investment projects.

The forum was attended by the Minister of Innovation and Growth Milena Stoycheva, the Executive Director of Invest Bulgarian Agency Mila Nenova, the Director General of the Directorate General “European Funds for Competitiveness” Radoslav Rizov, the Chief Executive Officer of Trakia Economic Zone Plamen Panchev, mayors of municipalities, district governors and municipal counselors.

Ivan Tserovski made a review of the achievements of BDB during its 25-year history and presented its current and upcoming projects.

“In 2023, the bank achieved a 70 percent growth of its new business on an annual basis – nearly BGN 150 million. We are developing financial products that are adequate to the needs of entrepreneurs”, explained the Executive Director of BDB. 

He presented the possibilities provided by the instrument for accelerated disbursement of European funds.

 “This is a very successful product of BDB, our first lending program that was developed entirely in sync with the business. Through it, we provide access to a resource for the implementation of projects under European and national programs, facilitating companies that face difficulties in starting their activities due to the lack of bridge or complementary financing”, explained Tserovski.

Some of the bank’s most interesting programs are under the Invest EU Programme, which offers direct loans of up to EUR 2 million. The projects must be in the directions “Sustainability”, “Competitiveness of SMEs” and “Innovations and Digitalization”. Microcredits of up to EUR 50,000 are also provided.

The financing provided by BDB up to BGN 5 million to agricultural producers has no analogue on the Bulgarian market. “The bank is also developing an innovative product for financing hospitals. It is very important for the development of infrastructure in places and we hope it will be successful this year”, also said the Executive Director of BDB.

It is about providing a credit facility or an investment loan with a maximum term of 10 years. The collateral for operating loan will be secured by the borrower’s receivables under its contract with the National Health Insurance Fund (NHIF).