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Bulgarian Bank for Development Sets up Investment Fund

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Bulgarian Bank for Development Sets up Investment Fund

(August 8, 2017 Sofia) - Bulgarian Development Bank JSC, together with some international financial institutions, is launching a medium-term project to establish a social investment fund to support capital of socially-responsible companies in Bulgaria.

This measure is in compliance with the adopted by the Council of Ministers and developed by the Ministry of Economy and the Ministry of Finance "Strategy 2017-2020 of the Bulgarian Development Bank JSC".

Minister of Economy Emil Karanikolov has voiced support for the establishment of a social investment fund as a subsidiary of the Bulgarian Development Bank.

The establishment of such a fund in the near future will significantly change the environment for development of social enterprises in our country.

So far in Bulgaria there has not been such a source of funding, as the support for social enterprises comes mainly in the form of grants from the structural funds.

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