New EU Funding Earmarked for Loans to Bulgaria's Businesses

New EU Funding Earmarked for Loans to Bulgaria's Businesses

The Bulgarian government is launching new loan options for businesses as of April, expecting to allocate up to 600 million euros to small and medium enterprises, the country's Economy Minister Bozhidar Lukarski has said.
The real implementation of the the new Operational Program SME Initiative is expected to begin in August or September.
Lukarski has noted the minimum credit portfolio is expected to reach 408 million euros. The first tranche to be disbursed to the country is at a value of 102 million euros and will come from the European Regional Development fund.
At a press conference marking the beginning of the new program, he has explained the idea is to make loans available to businesses under eased lending conditions by providing guarantees to banks.
Banks working with the government under the operational program are yet to be chosen.
The loans will be granted for a maximum period of ten years, and must be absorbed by 2019 (the funding is allocated under the 2014-2020 budget of the operational programs).

Sofia News Agency

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.