PROJECT FOR LOW INTEREST CREDITS TO BE LAUNCHED

Business | August 24, 2001, Friday // 00:00

The Ministry of Labor and Social Affairs prepared a draft for the establishment of a BGN 20 MLN micro crediting guarantee fund, Lidia Shuleva, Social Minister and Deputy Minister announced. The project is primarily for unemployed who want to start private businesses and already existing small businesses. The World Bank has allocated another USD 50 MLN loan to Bulgaria for the same use. The commercial banks are expected to draft their own projects for small credits at market interest rates to be subsidized by the fund.
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