December 17 (SeeNews) - Majority state-owned Bulgarian Development Bank (BDB) and the Japan Bank for International Cooperation (JBIC) on Thursday signed a 20 million euro ($28.7 million) credit line to support Bulgarian enterprises.
Beneficiaries of the loans will be local companies active in all economic sectors which buy goods and services produced/supplied by Japan, BDB said in a statement.
The loans will be extended for a maximum period of 10 years, it added.
This is the second credit line opened by JBIC for BDB. The first totalled 10 million euro.
BDB (www.bdbank.bg), in which the state holds a 99.97% stake, is the successor of Encouragement Bank, which was renamed last year to indicate it will function as an export-promoting development bank.
($ = 0.6966 euro)