Vladimir Georgiev to the “24 Chasa” newspaper: BDB will help the business to overcome the crisis

“Our focus is now entirely on small and medium-sized businesses. But there is a fundamental difference from the rest. We operate with a state resource that is more expensive than that of commercial banks. And that prevents us from being their actual competitor,” said Vladimir Georgiev, Executive Director of the Bulgarian Development Bank, in an interview with the “24 Chasa” newspaper.

“Precisely because of its operation with a public resource, BDB should not be a competitor of other banks,” he added.

To promote its products, the bank does not rely on building a large network in the country, but on digitalization of business. For this purpose, a special platform has been developed to reach companies seeking funding from anywhere in the country.

Regarding the launch of several new products by BDB, Vladimir Georgiev stressed that they are aimed at sectors and companies that face difficulties in financing from commercial banks.

“Our goal is not to compete with other banks for customers, but to support sectors that are experiencing problems, as well as companies that have less collateral or are in arrears; companies that are at a loss. With some of our products we finance precisely such companies to help them provide liquidity,” added the Executive Director of BDB.

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