Bulgarian Development Bank to Provide Liquidity to Agri Credit Unions

Business » FINANCE | June 6, 2014, Friday // 13:24
Bulgaria: Bulgarian Development Bank to Provide Liquidity to Agri Credit Unions Bulgaria's Deputy Prime Minister Daniela Bobeva, photo by BGNES

Daniela Bobeva, Deputy Prime Minister in charge of economic development, has presented a new instrument of the Bulgarian Development Bank (BDB) in the sphere of agriculture.

Speaking Friday in Parliament, she said that a special instrument was being developed through which the BDB would provide liquidity to credit corporations which brought together over 4000 agricultural producers, mostly small and middle-sized agricultural farms.

Bobeva, as cited by the Bulgarian Telegraph Agency, made clear that she had had a meeting with the Bulgarian Association of Cooperative Credit Organizations on the matter.

She argued that the measure would encourage the integration of the production for the purpose of domestic sales and for exports carried out in cooperation with the Ministry of Economy.

Bobeva said that the measure was expected to yield significant results in the sphere of agriculture, including industrial crops, as early as this season.

She informed that the first projects which were to be financed using this new product of the BDB were ready.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Finance » Be a reporter: Write and send your article
Tags: Daniela Bobeva, Deputy Prime Minister, Bulgarian Development Bank, agricultural producers
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria