• The agreement will provide bank lending with preferential terms and conditions to small and medium-sized enterprises in the country

UniCredit Bulbank and the National Guarantee Fund (NGF), part of the Bulgarian Development Bank Group (BDB), signed the 11th agreement in a row to guarantee a portfolio of loans to finance Bulgarian micro, small and medium enterprises (SMEs) with a total portfolio of BGN 200 million.

The purpose of the agreement is to implement a guarantee scheme that will provide both existing and start-up enterprises in Bulgaria with bank lending at preferential terms and conditions through a risk sharing mechanism.

With the help of the guarantee scheme, UniCredit Bulbank also supports the development and implementation of projects co-financed under the operational programs of the European Union.

The agreement was signed by Tzvetanka Mintcheva, CEO of UniCredit Bulbank, Andrea Tonietti, Executive Director, Member of the Management Board of UniCredit Bulbank and Director of People and Culture, Todor Todorov, Executive Director of the National Guarantee Fund and Zaharina Todorova, Member of the Directors' Council of the National Guarantee Fund.

"We are grateful for the long-standing partnership with the National Guarantee Fund. By uniting our joint efforts, we manage to provide opportunities for easy and quick access to finance. So far, we have helped over 2500 Bulgarian companies to start or develop their business", Tzvetanka Mintcheva, CEO of UniCredit Bulbank, commented.

"The NGF guarantee covers up to 50% of the amount of the newly granted investment and working capital loans by supplementing or replacing the necessary collateral under them.  Thus, the agreement makes it possible to guarantee a portfolio of loans for small and medium-sized businesses in the amount of up to BGN 200 million. We are confident that this cooperation will contribute to new success stories of Bulgarian entrepreneurship," BDB Executive Director and MB Chairman Iliya Karanikolov said at the signing.

Up to now, the guarantees issued in favor of customers of UniCredit Bulbank amount to a total of BGN 336 million. 2 646 small and medium-sized enterprises have received support.

With the new joint initiative, UniCredit Bulbank and the National Guarantee Fund continue their efforts to support the development and improvement of the competitiveness of Bulgarian SMEs, as the backbone of the national economy.

---

Additional media information:

Ekaterina Ancheva, tel +359 894 518 193 , flbufsjob/bodifwbAvojdsfejuhspvq/ch

Darina Radoslavova, tel +359 887 505273, Ebsjob/SbeptmbwpwbAVojDsfejuHspvq/CH