Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.
Factsheet for measure BG-2021-26/2023 – Updated – measures in Bulgaria
|Country||Bulgaria , applies nationwide|
|Time period||Open ended, started on 22 June 2021|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Access to finance
|Author||Tsetomila Sabcheva and Luboslav Kostov (Citub)|
|Measure added||07 October 2021 (updated 01 April 2023)|
Through the fund of funds guarantees and the approved bank intermediaries, small and medium enterprises (SMEs) can apply for a loan to be used either as investment or working capital. Thus liquid collateral of companies will be ensured and further business development will be possible. Program loans are to be granted in a swift manner with minimalized administrative burden and no collateral security demands.
Final recipients of the Program are Bulgarian small and medium-sized enterprises. The financing arrangements go as follows:
The following financial intermediaries provide enterprise loans: Tokuda Bank, First Investment Bank, Raiffeisenbank Bulgaria, Postbank, UBB, DSK Bank.
A month after its release the Program has provided loans to 53 enterprises. The allocated amount is BGN 21 million (€10.7 million) with approximately BGN 400,000 (€205,000) per enterprise.
|Does not apply to workers||
||Does not apply to citizens|
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Form||Not applicable||Not applicable|
Social partners' role in the implementation, monitoring and assessment phase:
No data available.
The Bulgarian Industrial Association conducted a survey among its affiliates in the last week of June 2021. A total of 558 enterprises were surveyed. Results show that 46.8% of the enterprises are not interested in the Program loans. Other 42.5% of the enterprises are interested in the loans and 10.8% have no opinion concerning the loans.
Eurofound (2021), Recovery Programme, measure BG-2021-26/2023 (measures in Bulgaria), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/BG-2021-26_2023.html
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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.