The new guarantee scheme is aimed at increasing the competitiveness of Bulgarian small and medium-sized enterprises.

UniCredit Bulbank and the National Guarantee Fund (NGF), part of the group of the Bulgarian Development Bank (BDB), have signed a new guarantee agreement for a credit portfolio for financing Bulgarian micro, small and medium-sized enterprises (SMEs) with a total amount of the portfolio of 70mn Bulgarian leva.

The purpose of the agreement is applying a guarantee scheme that will provide to existing and start-up companies in Bulgaria bank financing with preferential terms and conditions through a risk sharing mechanism. With the help of the guarantee scheme UniCredit Bulbank supports the development and implementation of projects co-financed under the EU Operational Programmes Rural Development Programme and Maritime and Fisheries Programme.

At the beginning of 2014, UniCredit Bulbank and the National Guarantee supported more than 250 Bulgarian companies and the guaranteed credit portfolio was 33mn Bulgarian leva.

The new guarantee agreement has contributed to an improvement of the access to financing for SMEs through guarantees in an amount up to 50%, complementing the collateral on investment, working capital and conditional loans. The loans guaranteed by the National Guarantee Fund are available in BGN and EUR and the end date of the guarantee is March 31, 2020. The guarantees provided by NGF allow lending with preferential terms and conditions for SMEs and micro enterprises, including start-up companies with a limited capability to provide a collateral.

With the new joint initiative UniCredit Bulbank and the National Guarantee Fund combine their efforts to support the development and the increase of the competitiveness of Bulgarian SMEs and the economy as a whole.

More information for media:

UniCredit Bulbank, Identity & Communications Department

Viktoria Blajeva, Phone: + 359 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch

Magdalena Ivanova, Phone: + 359 2 9232 528, nbhebmfob/jwbopwbAvojdsfejuhspvq/ch