17.11.2021 Tsanko Arabadzhiev, BDB Executive Director: Our efforts in the last months are showing results

“There is a significantly higher interest to the Bulgarian Development Bank’s work. Just in the last month, we received over 900 queries for loans under the bank’s new programs,” said BDB’s Executive Director Tsanko Arabadzhiev in the studio of the show The Alternative.

When asked about the promised reforms in the institution, he pointed out that the operational organization is being improved and a number of changes have been put to ensure the provision of effective support to small and medium-sized companies.

“Our efforts in the last months are beginning to show results. Since June, the BDB Group has granted direct financing to over 70 companies for over BGN 26 million. We have also guaranteed 595 loans to Bulgarian companies for over BGN 110 million through other banks,” said Tsanko Arabadzhiev.

He also said this would be the trend moving forward – BDB doing more work through commercial banks. This will happen through the programs created by the bank to reach small and medium businesses.

“There is also substantial interest in the new products of the Bulgarian Development Bank that were released in September. They are aimed at SMEs, the creative and artistic sectors, and manufacturing start-ups,” said BDB’s Executive Director.

The program is in partnership with the Pan-European Fund, has a scope of EUR 40 million, and will let BDB grant direct loans on even better terms. Another product is gaining popularity on the market. The BDB’s program for funding of the construction of photovoltaic stations for the needs of the business sector was created as a response to the growing concerns of various companies about electricity prices in Bulgaria and Europe, as well as the increased demand for electricity.