October 4 (SeeNews) - The Bulgarian unit of Greece's Eurobank EFG Group said on Tuesday it is getting a 7.25 million euro ($9.58 million) credit line from the state-owned Bulgarian Development Bank (BDB) to back small and medium-sized enterprises (SMEs).
"The resource has been extended under a credit line that BDB has agreed with [German development bank] KfW for direct lending to SMEs and for credit lines to commercial banks for targeted business financing," Eurobank EFG Bulgaria said in a statement.
The maximum size of the loans that will be extended under the credit line is 3.0 million euro with a repayment period of nine years, the statement added.
Eurobank EFG Bulgaria ranked as the fifth largest lender by assets in the country at the end of September among 24 domestically-registered banks and the branches of six foreign lenders.
($ = 0.7593 euro)