15.07.2021

THE TERM FOR INTEREST-FREE LOANS HAS BEEN EXTENDED

The government has decided to extend the application period for the Interest-Free Financing Program for Individuals, implemented by the Bulgarian Development Bank (BDB). The loans are for the protection of people deprived of the opportunity to work due to the COVID-19 pandemic.

The term is extended until August 31 or until the expiration of the guarantee limits for financing by the partner banks, whichever occurs earlier.

The decision is dictated by the fact that five of the commercial banks that have concluded financial agreements with BDB are still financing under the Program. Judging by their pace, if the application period is not extended, the warranty limit will remain free and unused.

A change in the decision of the cabinet from 2020 was also adopted - for BDB to become a sole joint-stock company. The decision will help the effective implementation of the Program assigned to BDB to overcome the consequences of the pandemic.