CEB To Provide 15 Mln Euro Loan to Bulgarian Development Bank To Back SMEs

This will be the third credit line worth 15 million euro extended by CEB to BDB, the Bulgarian lender said in a statement.

"This project will facilitate access to credit for Bulgarian SMEs, which represent 99% of all the country’s businesses, with a view to stimulating growth, strengthening the economic fabric and thus creating sustainable jobs," CEB said in a separate statement posted on its website.

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.

($ = 0.6827 euro)