19.11.2013

"We consider the Bulgarian Development Bank as a natural partner of the Government in the financing of SMEs". This is what Minister of Finance Petar Chobanov said at the ceremony on signing the first loan under the new Bank programme supporting micro and small enterprises. He also commented that the SME financing would be the major focus of the financial institution, which would make it a real development bank for this segment. Minister Chobanov added that the Government was taking measures to reduce the administrative burden and to facilitate the relations between the businesses and the tax system, and to facilitate the access of SMEs to public procurement. The introduction of the mechanism of cash accounting of VAT will ensure more money remaining with SMEs, he further specified.

Minister of Finance Petar Chobanov thanked the BDB management for setting up the new funding programmes. The BDB Development Programme and the Launching Business Programme are aimed at facilitating the access of new and existing micro and small enterprises to loan products. The Development loan is extended for both investment and turnover means. The Launching Business loan is aimed at micro and small enterprises that want to implement new projects and ideas.