Covid-19: Bulgaria Extends State Guaranteed Interest-Free Loan Program

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The Bulgarian cabinet decided at a regular meeting on December 9 to extend until June 30, 2021 the state-guaranteed interest-free loan scheme, introduced in response to the Covid-19 crisis.

People unemployed due to the pandemic are eligible to apply for the loans, which operate as a program under the aegis of the Bulgarian Development Bank.

The Cabinet agreed to increase the limit on interest-free loans from 4,500 leva to 6,900 leva (from approximately 2,300 euros to 3,527 euros).

The government has asked the Bulgarian Development Bank to unconditionally guarantee all loans granted by commercial banks in accordance with the terms of the “Interest Free Loan Guarantee Program to Protect People Deprived of the Opportunity to Work Due to the Covid Pandemic -19 ”.

The loan application period is extended until mid-2021 or until the guarantee limits of the program partner banks are exhausted, the statement said.

The eligibility criteria for loans under the scheme are available at the site of the Bulgarian Development Bank.

(Photo: Bulgarian Development Bank)

Sofia Globe’s coverage of the Covid-19 situation in Bulgaria is supported by the embassies of Switzerland and Finland.

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