Government approves interest-free loans for Covid-19 impacted individuals

At a late evening meeting on April 13, the Bulgarian government approved to raise the amount of possible interest-free credit to people who lost their jobs and income because of the coronavirus situation, from 1,500 BGN, as initially planned, to 4,500 BGN, as a lump sum.

The programme was developed by the Bulgarian Development Bank and has a budget of BGN 200 million.

It will be possible to apply for interest-free loan until the end of the year. Loans are granted without the need for security as a condition. They will be for a term of up to 5 years, with a minimum of 6 and no more than 24 months of grace period. Individuals will be entitled to early repayment of the debt without having to pay a charge.