Covid-19: Bulgaria extends state-guaranteed interest-free loans scheme

Covid-19: Bulgaria extends state-guaranteed interest-free loans scheme

Bulgaria’s Cabinet decided at a regular meeting on December 9 to extend the scheme for state-guaranteed interest-free loans, introduced as a response to the Covid-19 crisis, to June 30 2021.

People unemployed because of the pandemic are eligible to apply for the loans, which operate as a scheme under the aegis of Bulgarian Development Bank.

The Cabinet agreed to increase the ceiling for the interest-free loans from 4500 leva to 6900 leva (from about 2300 euro to 3527 euro).

The government has instructed Bulgarian Development Bank to unconditionally guarantee all loans granted by commercial banks in compliance with the terms of the “Program for guaranteeing interest-free loans to protect people deprived of the opportunity to work due to the Covid-19 pandemic.”

The term for applying for a loan is being extended until the middle of 2021 or until the guarantee limits of the partner banks under the programme are exhausted, the statement said.

The eligibility criteria for loans under the scheme can be found on the website of Bulgarian Development Bank.

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