July 30 (SeeNews) - State-owned Bulgarian Development Bank (BDB) said on Monday it has signed a 15 million euro ($17.5 million) deal for on-lending to small and medium-sized enterprises (SMEs) with Bulgaria's D Commerce Bank.
The deal is part of a new on-lending programme under the Investment Plan for Europe known as the Juncker Plan, BDB said in a statement.
The loan interest rate is set equal to the Euribor plus a margin between 2% and 4%,
The loan repayment deadline is 2032, at the latest.
The Investment Plan for Europe focuses on boosting European investments to create jobs and growth by making smarter use of new and existing financial resources, removing obstacles to investment and providing visibility and technical assistance to investment projects.
In 2017, BDB said it approved all 10 local commercial banks, which have expressed interest in taking part in its new on-lending programme under the Juncker Plan - Allianz Bank Bulgaria, Bulgarian-American Credit Bank, Piraeus Bank Bulgaria, Investbank, Municipal Bank, First Investment Bank, D Commerce Bank, Eurobank Bulgaria, UBB and CIBank.
Total financing under the on-lending programme amounts to 300 million euro, BDB said at the time.
($=0.8567 euro)
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