April 7 (SeeNews) - State-owned Bulgarian Development Bank (BDB) said that it will support local small and medium-sized enterprises (SMEs) in the context of accelerating inflation with a new loan programme worth 10 million levs ($5.6 million/10.2 million euro).
Under the programme, the BDB will provide working capital loans of up to 200,000 levs to companies that want to buy raw materials at current prices and thus avoid higher production costs in the future, the bank said in a statement on Wednesday.
"This will help them maintain the price of final products," the BDB said.
Bulgaria's consumer prices rose by 10% year-on-year in February following an annual increase of 9.1% in January, the statistical office said last month.
The BDB's support programme is open to viable businesses from all sectors of the economy. Applicants with lower credit ratings are also eligible.
(1 euro = 1.95583 levs)
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