Bulgarian Development Bank Extendеd 60 Loans Over Lv 5 Mln August 2017-March 2020

Between August 1 2017 and March 30 2020 the Bulgarian Development Bank extendd 60 loans in excess of 5 million leva. This has transpired from a written reply by Economy Minister Emil Karanikolov to a question from a member of Parliament.

For four of these have been insured by the Bulgarian Export Insurance Agency as additional security.

Under the bank's regulaions loans over 5 million lva need to be approved by the Bank's Supervisory Board as well.

In another reply Karanikolov recalls that he has ordered an in-depth check of the procedure and terms under which a loan agremeent with St George Group, a debt collecting company, has been concluded. The Minister assures that after the check is completed he will give information about the steps which the bank will undertake in connection with the loan.

The replies have been uploaded on the webpage of the Economy Ministry on Wednesday.

The Bulgarin Development Bank is the only state-owned bank in Bulgaria. Recently Prime Minister Boyko Borissov dismissed the bank's management board after it mrgd tha it had expended a 75 million euro loan to the dbt collecting company.

Source: BTA