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Government finds way to halve corporate loan interests
Finance and Taxes
Sofia. The much anticipated drop in corporate loan interests will materialize in the fall of 2012. The idea is to combine bank loans with money from the JEREMIE program for SMEs. According to deputy economy minister Julieta Hubenova, some EUR 150 mln will be granted to Bulgarian banks at 0% interest for a period of 3 years. The lenders will couple the JEREMIE funds with own money and lend it to businesses at around 5% interest, Mrs. Hubenova explained. In her words, the mechanism would provide long-term investment opportunities to entrepreneurs in the country. The state would sign agreements with lenders offering the lowest interest rates. Sega Daily reports.