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BDB's Guarantee Fund has the largest growth in guarantees issued in Europe The National Guarantee Fund (NGF), which is a subsidiary of the Bulgarian Development Bank, holds the first place in the growth of the guarantees granted in Europe for last year. This was revealed during an official visit by Catherine Sturm, Secretary General of the European Association of Guarantee Institutions (EAGI), which includes organizations from 42 countries. Guarantees issued by the Fund for small and medium-sized enterprises for the past year are 58% higher than those in 2015. This places the institution first in Europe, followed by Dutch and Estonian guarantee institutions, which are up by 56.3% and 44.2%. According to EAGI data in 2016, the total amount of guarantees issued was EUR 86 billion, with the average amount of an issued guarantee for Europe being EUR 32 thousand. Compared to it, its value in Bulgaria is EUR 52 thousand. This year, the NGF has supported a total of 1,500 clients who have received funding totaling BGN 360 million, including the new COSME program implemented with funds under the Juncker Plan. NGF was established in 2008 as part of the Bulgarian Development Bank Group. The Fund issues collateral supplementing the collateral, which facilitates access to credit for Bulgarian small and medium-sized enterprises. Since its inception, the Fund has supported more than 7,600 enterprises, which have received funding totaling to BGN 1.7 billion.

 

 

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