The Administrative Council of the Council of Europe Development Bank (CEB) approved the extension of a 20 million euro credit line to the Bulgarian Development Bank, the Prime Time PR Agency said.

The purpose is to enhance the access to financing for Bulgarian small and medium-sized enterprises, create new jobs and keep existing ones.

The Bulgarian Development Bank will distribute the financial resources among ongoing programmes. The funding will reach Bulgarian business via direct investment loans.

CEB is a traditional partner of the Bulgarian Development Bank. So far the latter has successfully utilized two credit lines to the amount of 30 million euro.

The Bulgarian Development Bank is a state financial institution, the majority owner of which is the Finance Ministry. So far it has attracted over 500 million leva in credit and guarantee lines from foreign financial institutions without state guarantee, the message says.

Source: BTA