Bulgarian development bank Bulgarian development bank

Search

The National Guarantee Fund opens a new guarantee scheme in September

“The National Guarantee Fund (NGF) opens a new guarantee scheme set up on the risk of the Fund in September 2015. In the framework of the scheme, guarantees will cover up to 50% of the loan principle. The maximal guarantee value is set at BGN 1 mln . In addition, the NGF will also continue to issue guarantees for projects in the framework of the Rural Development Program during the Program Period 2014-2020. Currently the guarantees will be issued by the Fund on its own risk“ Samuil Shiderov, Executive Director of the Fund explained for the series “Farmers and bankers’ on the “Furrows” TV panel of BNT.

The current episode of the series presents one of the biggest projects, realized with the support of the National Guarantee Fund – a vegetable processing factory in Dolna Dikania, Radomir. The beneficiary enterprise is one of a kind in Southeastern Europe. Its main activity is the processing and packaging of fresh vegetables. In addition, the factory is equipped with specialized ecological systems, a photovoltaic roof top park and a waste purification system. The project investment amounts to BGN 8 mln and its realization is cofinanced at a rate of 50% by the State Fund “Agriculture”. The investment share financed through a loan is supported by a guarantee, granted by the NGF that reaches the maximal guarantee value, i.e. BGN 3 mln.

“Our next step is the enlargement of the storage facilities. This would allow us to significantly increase the quantity of vegetable production that we would be able to purchase from other farmers and, hence, the quantity of vegetables we process. In such a project it would be impossible to succeed without the support of the Guarantee Fund, not unless the enterprise has at its disposal an impressive amount of financial means to spend away”, Gueorgui Milev, Manager of the beneficiary enterprise explains.

 

The whole series can be found here

Back
Other