Financed ProjectsBulgarian American Credit Bank I

Identification Code:

OP/02/0365

Total Operation Cost:

0

Maturity:

60 months

Operation Status:

Description and Purpose of the Operation:

A Euro 10 million Medium-Term loan for Bulgarian enterprises was concluded with the Bulgarian American Credit Bank in September 2003. The Loan has been structured in three tranches of Eur, Tranche A of Eur 5,000,000 million, Tranche B and C of Euro 2,500,000 each. It will be used by Bulgarian American Credit Bank for extending financing to Bulgarian enterprises having a maturity of up to 5 years. The sub-loans to Bulgarian Enterprises will finance there: - Purchasing of land, building, property, machinery, equipment and other capital goods for establishment, modernization and expansion of production facilities; - Working capital financing; - Acquisition of cars, vans, trucks or equipment for the conduct of business or trade.

Countries of Operation:

Bulgaria (100,00 %)

Financial Product:

Loans

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

Bulgarian American Credit Bank

Co-Financiers/Participants:

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

Reaching a high-level of development impact through lending to Micro, Small and Medium Sized Enterprises. The Project will also play an important role to support banking system in Bulgaria by supporting a successfully growing commercial bank.

Environmental Classification and Impact (summary):

The Project will not have negative environmental impact and is in compliance with the Bank's Environmental Policy.

Operation Leader:

General Industries, Transport, Tourism 2

E-mail:

gitt2@bstdb.org