BDB will finance the food industry

The food industry will receive financial support from the Bulgarian Development Bank (BDB), the institution announced. At an official ceremony, the bank signed co-operation agreements with the Union of Food Industry, the National Vine and Wine Chamber, the Federation of Bread Producers and Confectioners in Bulgaria and the Bulgarian Soft Drink Association under the Partners programme. Assen Yagodin, the BDB Chief Executive, and the heads of the four associations Svetla Chamova, Plamen Mollov, Mariana Kukusheva and Zhana Velichkova. The four organisations will be able to tap BDB business credits with preferential terms. The bank will provide up to BGN 150 mln under the scheme for funding of small and medium-sized enterprises. The firms will be given loans with up to 10-year maturity, a two-year free period and an option for a 7% fixed interest rate. Since the start of the Partners programme in September, BDB has received more than 200 credit applications. The bulk of the demand comes from firms in the meat and dairy processing industries, agriculture, the industry products sector, energy and the hotel business.

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