SOFIA (Bulgaria), November 2 (SeeNews) – The Black Sea Trade and Development Bank (BSTDB) said on Thursday it is providing a 20 million euro ($23.3 million) revolving short-term loan facility to ProCredit Bank Bulgaria to improve access to financing of local small and medium-sized enterprises (SMEs).
“We are happy to continue our mutually beneficial cooperation with ProCredit Bank in Bulgaria and to provide the country’s businesses with much needed additional access to affordable financing,” Igor Leshukov, vice president banking of BSTDB, said in a statement.
The loan facility will have a development impact to address working financing needs of Bulgarian SMEs, promoting their income generation and increased trade turnover, the statement reads.
BSTDB first started its cooperation with ProCredit Bank Bulgaria in 2003 and has since then extended several micro and SME loan facilities, totalling 49 million euro.
($ = 0.8586 euro)