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Economy Minister demands explanations over loans granted by Bulgarian Development Bank

Economy Minister Kiril Petkov
Photo: BGNES

The caretaker Minister of Economy Kiril Petkov has invited the representatives of the Supervisory Board of the Bulgarian Development Bank (BDB) to explain how they have allowed a concentration of loans for nearly BGN 1 billion /EUR 500 million/ in a total of 8 companies. They will have to say how this funding has helped increase jobs, foster exports and innovation. 
In an interview with Radio Darik, he said the meeting would be broadcast online to let citizens know where their taxes were going. The fact that BDB has given 946 million to 8 companies instead of BGN 100 thousand each to 10 thousand companies explains the lack of efficiency of its activity, the minister said. 
He has demanded that the BNB change the bank's statute so that no more than BGN 5 million (EUR 2.5 million) could be granted to one company.

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Radio Bulgaria News    BDB Bulgarian Development Bank Kiril Petkov loans

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