The Bulgarian Development Bank (BDB) has signed a new agreement for the issuing of a counter-guarantee with the European Investment Fund (EIF) under the COSME programme in support of small and medium-size enterprises in Bulgaria.

The aim is to facilitate access to long-term, low-interest credits to firms in the country, while simultaneously easing the requirements for the securing of collateral on credits, reported investor.bg.

BDB will now be able to cover up to 60% of the risk on the credits of commercial banks with which it is a partner.

The COSME programme is implemented with the support of the European Fund for Strategic Investments, also known as the Juncker plan.