Financial and business news from Bulgaria

Financier confidently: Measures taken to keep the business calm

“The programme we announced today is one of the first in Europe. It will mainly affect micro-enterprises and companies to continue operating. Other banks are preparing to announce similar measures.
Our role in this situation is important. Our efforts are about supporting all government measures. Businesses should be calm that we are planning adequate measures. The program is self-contained with its own resource. BDB is also a major partner of the Juncker Plan, said financier Stoyan Mavrodiev.

He added that the programme was supported by a guarantee from the European Investment Bank. In his words, the banks in Bulgaria are well capitalized and work transparently.

“Of the voted 700 million - 500 million will be used to guarantee loans. Any fake news that is used to attack the management in our country is harmful,” Mavrodiev explained. He added that the profit of BDB for 2 years is us 75 million BGN.

“I am beginning to be amazed by the unhealthy desire of certain circles to extract political dividends. Even in an unprecedented situation where many businesses and households are on edge. I'm not surprised by the negative reading of every deal the BDB does.

This is not the first case. I don't count how many times they want our resignations. This has clearly become a conditional reflex for certain political parties. It is important to know that the BDB works around the clock and in short time we managed to prepare our programmes.

Our own programme, which covers sectors that are not covered by government measures, that is, we support it. I find it destructive to think in another direction at the moment.

Fictional and false scandals are sought that interfere with the work of institutions and create stress and tension in people. It is constantly suggested that we give big loans to the business”, explained Mavrodiev and listed how many and what loans the BDB has granted to small and medium-sized enterprises.

“The specific transaction is with a borrower with whom we already have relations and has repaid another loan. The borrower is “SG Group”. They, buying portfolios that make it difficult for banks, will be able to support two other Bulgarian banks.

We provide them with liquidity on the one hand. On the other hand, for this term of 10 years, which we have agreed, the borrower will be able to negotiate with the other 750 lenders,” Nikolay Dimitrov explained on the news that BDB has granted credit to a company with a low budget.

According to Mavrodiev, this is how all development banks around the world do.

“Every individual should apply to the relevant bank. They will be able to grant loans. I expect that within two to three semics this will be a fact,” said BDB Executive Director Nikolay Dimitrov.

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