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Bulgarian Development Bank’s Instrument for Accelerated Disbursement of European Funds

The Bulgarian Development Bank’s Instrument for Accelerated Disbursement of European Funds aims to expedite the utilisation of EU funds allocated to Bulgaria. This instrument provides financial and administrative support to ensure that projects benefiting from European funds are implemented efficiently and effectively. The objective is to maximise the impact of EU funding on Bulgaria's economic growth, infrastructure development, and social progress by reducing delays and enhancing the absorption capacity of these funds.

Programme name

Bulgarian Development Bank’s Instrument for Accelerated Disbursement of European Funds

Objective(s) and scope

The Bulgarian Development Bank (BDB) offers support financing for enterprises with approved projects under European and national Programmes. The Bank’s new instrument is in fulfilment of its strategic goals to contribute to increasing investment activity among small and medium-sized enterprises. Among the priorities of the BDB is also easing access to financing for projects under the National Recovery and Sustainability Plan (NRSP) and the European Structural and Investment Funds (ESIF) and speeding up the disbursement of EU funds.

Type of finance provider

Public

Administering body

Bulgarian Development Bank

Financing product

Investment loan

Working Capital Loan (Purchase of goods and inventories, Staff salaries, Costs for transport, electricity and other energy carriers)

Unsecure Working Capital Loan (UWCL)

Financing value

Investment Loan – up top BGN 5 million

UWCL – up to BGN 200,000

Eligible countries

Bulgaria

Eligibility criteria (if available)

Eligible entities are: 

  • For micro-, small and medium-sized enterprises that have submitted project proposals for support under European or national Programmes:
  • Enterprises that have been approved to sign an agreement – financing up to 100% of the costs without VAT
  • Enterprises that have submitted proposals or having been included in the waiting list, but, at the time of signing the loan agreement, have not yet signed a grant agreement – financing up to 85% of the costs without VAT.

Further information on eligibility criteria

The UWCL is targeted to enterprises approved by the BDB for investment financing in the amount of over BGN 2 million.

Application period

Investment Loan – Grace period is up to 24 months and the Loan term is up to 72 months after the expiry of the grace period

UWCL – Up to 60 months

Technology type

Not specified – Contact BDB for more information

Technology readiness level (TRL)

Not specified – Contact BDB for more information

Links

Instrument for Accelerated Disbursement of European Funds - Bulgarian Development Bank

Contacts

Contacts - Bulgarian Development Bank

General publications25 July 2024
Bulgarian Development Bank’s Instrument for Accelerated Disbursement of European Funds

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