Bulgaria’s JOBS MFI to provide 10.2 mln euro to 600 SMEs by end-2014

JOBS MFI has provided more than 5 million levs to some 200 SMEs in the first year of its existence, BDB said in a statement.

JOBS MFI finances its target groups through provision of micro-leasing and micro-credit up to 25,000 euro. The institution is a wholly-owned subsidiary of BDB. It was set up at the end of 2010.

BDB (http://www.bdbank.bg/), in which the state holds a 99.97% stake, is the successor of Encouragement Bank which was renamed to indicate it will function as an export-promoting development bank.

(1 euro = 1.95583 Bulgarian levs)