Bulgarian Development Bank has developed a new loan product in support of rose oil processors
Rosehip Oil
Bulgaria
Published Jan 25, 2022
Tridge summary
The Minister of Agriculture Ivan Ivanov and the Minister of Innovation and Growth Daniel Lorer, as well as the Executive Directors of the Bulgarian Development Bank Vladimir Georgiev and Tsanko Arabadjiev presented a new loan product in support of rose processors in the country, developed by the Bulgarian Bank for Development. development (BDB).
Original content
"We have developed this new product in a joint dialogue with the bank and the business with the idea to solve some of the problems of those employed in this sector," said BDB Executive Director Tsanko Arabadjiev. "The product we present is aimed at rose processors and aims to bring liquidity to the overall system of rose processors and to support the sector at a time when they are experiencing some liquidity difficulties," said Vladimir Georgiev, Executive Director of BDB. "We offer a credit line between BGN 100,000 and 1 million for a period of 3 years, which means that they can sow not only crops 22-23, but also crops 23-24. The estimated interest rates are 3.7 % up, depending on the rating of the respective borrower and the collateral, which in addition to rose oil, there may be others, "said Georgiev. "The main element of this program is the fact that we take as collateral the rose oil that is currently being produced, so that by betting on the first batches of rose oil, the ...
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