Parliament To Ratify Guarantee for EUR 100 M Lent to BDB by KfW

      Published on Sunday, 16 October , 2016      121 Views     

  • Bulgaria Finance

The Council of Ministers has proposed that Parliament ratify a guarantee for the EUR 100 M withdrawn by the Bulgarian Development Bank (BDB) from Germany’s KfW, reported the government’s press centre.

The credit contract is part of a series of loans of BDB with which it secures funds from international banks for the implementation of the National Energy Efficiency Programmefor multi-family residential buildings.

The ratification of the guarantee, payable on first demand, is a precondition for the granting of the funds.

The option of issuing a guarantee has been stipulated in the State Budget Act for 2016.

Category Bulgaria Finance | 2016/10/16 latest update at 11:00 AM
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