December 6 (SeeNews) - The Bulgarian Development Bank (BDB) said on Wednesday that it has signed a 50 million euro ($54.1 million) loan deal with China's Exim Bank to support Bulgarian businesses.
BDB will use the five-year credit line to finance Bulgarian companies and their operations, the lender said in a press release.
The initiative marks the second financial agreement between BDB and the Chinese lender, following one concluded in 2017. The partnership between the two banks, initiated in 2014 through a framework agreement, facilitates joint financing of key projects or areas, BDB said.
China's Exim Bank, founded in 1994, is a state-owned financial institution focused on supporting China's imports and exports, helping local companies with overseas projects and fostering international economic cooperation and trade.
($ = 0.9245 euro)
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