The Bulgarian Development Bank will support SMEs providing BGN 1.7 billion from the European Budget

28 July 2021

The Bulgarian Development Bank (BDB), INSME member, has announced to the European Commission that it will actively participate in the process of recovery and development of small and medium-sized business. The BDP, with the support of the EU, will provide additional funds for SMEs through the European programme InvestEU (applied for the period 2021-2027) for a total amount of BGN 1.7 billion. The bank expects to sustain over 3,260 small and medium-sized Bulgarian companies as well as create at least 8,000 workplaces and 18,000 as reserves.

The primary objective is to mobilize both public and private resources in order to guarantee funds for SMEs in areas that the bank will perceives as high-risk. This BDB retains fundamental to increase and stimulate businesses’ competitiveness in the fields of digitalization, innovation, internalization and invest in new sustainable technologies. This process falls within the several mechanisms that are in place to recover from Covid-19 pandemic and to reach the goals of an ecological, digital and sustainable EU economy.

For more information, you can visit BDB’s website here

Source: INSME Secretariat

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