Bulgarian Development Bank (BDB)

Bulgarian Development Bank (BDB) is a financial institution 99.9%-owned by the Bulgarian state. It is the successor of Encouragement Bank established in 1999. Its focus is to support small and medium-sized enterprises. BDB is among the top four Bulgarian banks in terms of credit rating, rated BBB- by Fitch Ratings, the global credit rating agency. It is the only Bulgarian bank to provide financing via other credit institutions as well as direct financing. BDB is the best-positioned local bank to raise funds from international partners. Its subsidiary, the National Guarantee Fund, issues guarantees for bank loans to the non-financial sector. Mission: The mission of the BDB is to be a modern banking institution, seeking to make full use of its unique position in the local banking market to implement the state policy in the Bulgarian economy as the main focus of the bank are local SMEs, project financing for export-oriented companies, as well as investment banking and public projects of national importance. Vision: Realizing its potential as an unique institution for the local market, BDB shall become one of the systemically important banks in Bulgaria, contributing with its activities to ensure better access of SMEs to financial resources, while at the same time providing the necessary tools for efficient implementation of government economic policy in order to ensure sustainable development of the country.