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Bulgarian Development Bank SME II

Bulgaria | Financial Institutions

Identification Code:: OP/11/0844
Total Operation Cost:: — EUR
Maturity:: 60 months
Operation Status:: BSTDB Approved Amount – Approval Date

31.000.000 EUR – 21 Jul 2011
: BSTDB Signed Amount – Signed Date

31.000.000 EUR – 09 Sep 2011
: Status:
Completed
Description and Purpose of the Operation:: The SME facility will be used By the BDB to on-lend to small and medium sized enterprises (SMEs) in Bulgaria. The facility aims at financing the modernization and expansion of the SME sector. Also, it will be used for export financing and working capital needs of SMEs engaged in manufacturing, agriculture, and the service sector.
Countries of Operation:: Bulgaria (100,00%)
Financial Product:: SME's
Sector:: Financial Institutions
Domain:: Public
Borrower/Client:: The Bulgarian Development Bank is a state-owned financial institution under supervision of the Ministry of Finance of Bulgaria.
Co-Financers/Participants:: —
Guarantors/Sponsors:: —
Developmental and Regional Cooperation Impact:: The Project is expected to have favorable economic benefits for the Bulgarian economy, the most relevant being the tax revenue gains from economic activity. This will further increase employment, export capacity and competitiveness, and multiplier effects for other sectors of the economy.
Environmental Classification and Impact:: Screened as FI category. The Borrower has adopted basic environmental procedures satisfactory to BSTDB and integrated them as fully as possible into its credit/investment appraisal and monitoring process. For the purpose of this transaction the Borrower is required to: remain compliant at all times with local and BSTDB EHS requirements, including the Negative List; undertake environmental assessment of its sub-loans with high and medium risk and ensure their monitoring; and submit annual EHS performance reports.
Operation Leader:: Financial Institutions I
E-mail:: fi1@bstdb.org