NGF and МFI "JOBS" will offer new products for business start-up and high technologies
New investment products for micro-enterprises and start-ups are planned by the subsidiaries of the Bulgarian Development Bank in 2018. The BDB Group will support the innovation and implementation of high technology in line with its long-term strategy to support the development of the Bulgarian economy.
The Bank’s priorities are to finance micro, small, medium and start-up enterprises and to create a favorable environment for the business development throughout the country. Pursuant to this mission, its subsidiary the National Guarantee Fund (NGF) was established in 2008. The guarantees that it issues complement the collateral required by commercial banks, thus increasing the range of companies that banks are willing to finance, while also lowering interest rates on loans.
With the support of the NGF, lending is available to start-ups and businesses without credit history. Over the last 10 years, the fund has successfully co-operated with 18 commercial banks and has implemented 9 guarantee programs. Over 8 000 is the total number of companies supported by the Fund so far, 1 000 of them are in start-up phase. The loans guaranteed by NGF amount to over BGN 1.8 billion.
The Microfinance Institution "JOBS" is another daughter company of BDB, established in 2010 with the main purpose to facilitate the access to finance for micro and small enterprises, farmers, self-employed persons, craftsmen and others. Since the beginning of its activity, the company has provided funding amounting to BGN 32.2 million to about 650 micro and small enterprises.
Angel Djalazov is the Executive Director and Member of the Board of Directors of MFI "JOBS" and NGF since February this year. He has over 15 years of experience in the field of international investment banking, asset management, capital markets, project finance, investment products, supervision and financial instruments management. He has worked as investment manager at TBD Fund, JD & MG Legal Director, Executive Director and Chairman of the Board of Directors of KD Investments, and KD Pelikan, CEO of Capital Dynamics Bulgaria and Euro-Phoenix Financial Advisors. He was a Deputy chairman of FSC. He speaks English, German, Russian and Dutch.