Financial and business news from Bulgaria

Announced who took BGN 1 billion in loans from BDB

The Ministry of Economy published a list of companies that have received a total of almost BGN 1 billion in loans from the Bulgarian Development Bank.
Loans of over BGN 140 million have received Sunny Day AD, Blagoevgrad-BT AD and Roadway Country AD. With loans over BGN 115 million are Market Investments AD (“Technomarket”) and “International Investments” EAD. With over BGN 60 million from the bank were financed Navigation BMF AD, Transpect AD, Insa Oil Ltd.

The Ministry also points out that by the end of the week the Commission for Transparency and Control of Public Funds in BDB will begin work. It will verify the compliance of credit procedures by the bank in accordance with the special law on it and the statutes. The Commission will check the granting of all loans over BGN 1 million.

The check was made possible after Economy Minister Kiril Petkov signed a donation agreement with the commercial bank, which so far had 8 shares of BDB. Thus, the state becomes the sole owner of the capital and the minister can take any additional, necessary corporate action.

Earlier the BDB stated that Bulgaria and the EU are strictly complying with the legislation and have always cooperated with the verifying institutions and will do so in the new verification by the Ministry.

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