Bulgarian Development Bank gets EUR 31mn credit line from BSTDB.

By bne IntelliNews September 20, 2011
The state-run Bulgarian Development Bank (BDB) has reached an agreement with the Black Sea Trade and Development Bank (BSTDB) to receive a EUR 31mn credit line, BSTDB said on its website. The financing with interest rate of 3-month EURIBOR plus 2.65% mark-up will be used for on-lending to small and medium-sized enterprises (SMEs) for modernisation and expansion, export financing and working capital needs of companies from the manufacturing, agriculture, and the service sector. Last week, BDB and the local branch of the US Citibank signed an agreement for two credit lines at the total amount of EUR 32.7mn. BDB ranked fourteenth-largest in terms of assets as of end-June. It specializes in loans for the SMEs which face difficulties to obtain private financing.

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