Bulgarian Development Bank is now entirely state-owned

The Commission for Transparency and Control of Public Funds at the Bulgarian Development Bank (BDB) will start working by the end of the week. It was established in order to verify the compliance of the procedures for granting loans by Bulgarian Development Bank AD in accordance with the Bulgarian Development Bank Act and the Bank's Articles of Association. The commission will check the granting of all loans over BGN 1 million, the Ministry of Economy announced.

The inspection became possible after the Minister of Economy Kiril Petkov signed a donation agreement with the commercial bank, which so far owned 8 dematerialized shares, each with a nominal value of BGN 100 (000055% of BDB's capital), by virtue of which the commercial bank transferred to the state the right of ownership of the shares. Thus, the Minister of Economy, in his capacity of exercising the rights of the state as the sole owner of the capital in the general meeting of the shareholders of BDB, can take any additional, necessary corporate actions.

Due to the great public interest, the Ministry of Economy provides the list of the eight largest borrowers from BDB.

Loans over BGN 140 million:

Sunny Day AD

Blagoevgrad- BT AD

Roadway Construction JSC

Loans amounting to over BGN 115 million:

Market Investment AD (Technomarket)

International Investments EAD

Loans over BGN 60 million:

Shipping BMF AD

Transpect AD

Insa Oil EOOD