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July 8, 2018 | 20:00 | FOCUS News Agency
Sofia. BDB earns 75% of Chinese investment in Bulgaria. This is what Stoyan Mavrodiev, executive director of the Bulgarian Development Bank, interviewed with Iliana Benovska in the weekly "Benovska pita" political information channel "Channel 3" and "Radio K2" , the broadcasting team .
Mavrodiev said positions on the following topics:
The 16 + 1 Forum – what are the results and what is coming
Benovska welcomed Mavrodiev to the studio and started the conversation with the topic of Chinese investments and the "16 + 1" forum organized by Bulgaria and the Bulgarian Euro-Presidency. Leader asked what is expected of Chinese investors because two of them are heard lately – the country is a small territory and is of no interest to China and this n & # 39; 39 is only the beginning of future joint developments. Mavrodiev explained that the complaint was part of the Bulgarian folk psychology and that, according to him, the investments would correspond to the level of work done by the Bulgarian team and to the success of the country to persuade Chinese investors. "Have we done a lot to sign a 1.5 billion euros deal?" Asked Benovska. The Executive Director of the Bulgarian Development Bank (BDB) responded that the signing was a "crown" of efforts from 7 to 8 months and thanked his team for the outstanding work. Mavrodiev rated the event as a precedent for the banking sector in Bulgaria, as for a large sum, but the conditions are very good and weak, unlike, for example, the London bond market. The guest explained that the transaction costs are 0 leva, and consulting fees usually between 1.5 and 2% are paid for such transactions. In this case, about 30 million euros were saved. Mavrodiev pointed out that the two banks have been heard without state guarantee, which he says shows that Chinese investors trust the BDB team and the results and success of Prime Minister Borissov and government in the area of business, investment and partnerships. Benovska asked what projects would be funded with these funds and mentioned that Domuschiev shared his happiness on Facebook that the Bulgarian Navy would be able to participate in the purchase of 6 ships. Mavrodiev explained that the organization was at a high level and China has allocated 2 billion euros to all of Eastern Europe, of which Bulgaria receives 1 , 5 billion – 75% of funding for all other countries. He mentioned that colleagues from other countries had envied exactly what Bulgaria had done to win such funding. Benovska wanted to understand "how they did it." The executive director of BDB explained that it is the truth. Mavrodiev explained that the money will be allocated to small and medium businesses as well as large profitable projects such as deliveries from Kiril Domuschiev and other companies that are managed successfully and can repay the loans. The guest pointed out that no matter whether it is a start-up or a developed company, it is important to respect the regulations and banking standards, the bank respected the law and businesses to make profits and create new jobs. Bulgaria Benovska asked if there is a new loan page, which will be accompanied by different requests for borrowers. Mavrodiev responded that the requirements are the same, but the difference is that the low interest rates agreed with the China Development Bank make BBB much more competitive because of the lucrative credit that it can offer. He added that they would have the opportunity to fund government projects and explained that the total amount allocated is available to support Bulgarian projects and can also be multiplied by co-financing from other banks. Leader asked if China Development Bank has specific requirements for projects that will finance and their sphere. Mavrodiev noted the success of the freedom of action agreed in the selection of support projects, but stressed that the BDB would meet the high standards and would be supervised by the Bulgarian National Bank
Equity Venture Capital Funds
Benovska recalled that in meetings with China Development Bank, Mavrodiev shared his idea of creating venture capital funds and asked what that meant. The CEO of BDB explained that private equity mutual funds would be created to allow the bank to participate in riskier projects, which are good for the economy and create new jobs. "Most startups are risky and can not get standard bank financing due to lack of history due to lack of proven cash flows but at the same time they can have a brilliant idea that will be really successful. … then this venture capital fund can enter as a partner in the company and participate in the management, project control, and when the project is successful – the bank will leave the project with the corresponding profit, "said Mavrodiev. Benovska mentions that there is little criticism with regard to Mavrodiev, that BDB does not primarily finance start-ups, small and medium enterprises, and that there are large borrowers and industrialists even if the statutes are modified and the bank is open to finance any solvent person. The chef asked if there would be a certain proportion of funding. Mavrodiev thanked for this question and explained that it is a media propaganda to the BDB and him, but it does not hurt because there are visible results and the bank contributes to the growth country's economy. Mavrodiev has served as an example to refute the thesis of "propaganda" – more than 75% of the loans are intended for small and medium-sized enterprises, which corresponds to the mission of the Bank. Benovska interrupted and asked what was the relative share of money. The Executive Director of BDB said that 75% of the funds are for small and medium-sized enterprises and the remaining 25% for large borrowers and government projects. Another example of Mavrodiev is BDB's online program, which provides credit lines to other commercial banks that finance small and medium-sized businesses – more than 7,300 companies have created more than 120,000 jobs in the last five years. -6 years. Regarding the guarantee fund, a subsidiary of BDB, Mavrodiev explained that he has helped more than 7,000 companies get easier financing from other banks. Mavrodiyev pointed out that, as soon as he took office, the BDB said that he should not worry about financing a major project that meets banking standards, has collateral, the risk is badessed and can be controlled, the interest of the bank is protected and created jobs. The guest added that he divided the projects of good-to-evil because it is important to protect the interests of the bank and the shareholder – the government and to work for the state.
Benovska recalled that when the constitution was changed in November 2017, Mavrodiev came out with a media message that the changes in BDB's statutes follow the pattern of European development banks. Mavrodiev explained that they are one of the largest lenders in the field of infrastructure and industrial projects, energy and so on. It is a mission of the Development Bank, including investments in poor areas that other banks do not consider interesting. The executive director of BDB pointed out that the bank does not have money from the state budget and does not receive subsidies, and all the funds are credit activities under the law. 39 agreements with other international banks. He added that BDB is a major partner of the "Juncker" plan, the European Commission and the European Investment Bank, and that all funds come from Europe and now from the success of the Chinese loan. Mavrodiev noted that the bank is a government only because the government is a shareholder, and for all funds with which the bank has the interest of major international banks.
Political people and getting the credit of BDB
Benovska recalled that in the statutes introduced a definition of affiliates of political parties and asked if, for example, a certain start-up wants to take a cable license and is BSP and asks BDB funds – will it get them? Mavrodiev responded that if the company is not clbadified as politically linked to BSP and has a good project, Benovska interrupted and said that the party was the initiator of this case. The executive director of BDB said that he was having trouble answering, but it is important that the property and government members do not hold positions of responsibility in the political parties. He explained that if television shows sympathy to a political party by its content, the bank can not refuse funding if the project is good
Agreement on the involvement of CEZ and BDB in the scandal
of CEZ of Innercom and the involvement of Mavrodiev in the case with the letter sent by the bank and asked his guest if in the current conditions – with 1.5 billion additional resources – he would consider funding the CEZ agreement. The CEO of BDB recalled that he said the bank was interested in obtaining credit and profits, and that the government as a shareholder was protected. He explained that if a company has a good project and brings a steady income to the company, it can serve the loans and return them with the appropriate interest – the bank has no reason to refuse support because the profit of the bank contributes to the state budget. The agreement stated that if "Iernom" and Ginka Varbakova were approved as buyers, they signed an agreement and the transaction was recognized and proven to be able to repay the loans, then the BDB would consider the case, but could not promise to finance it. lack of documents.
Credit to the Bulgarian Maritime Navy; The Junker Plan
Benovska asked if the loan was granted to Kiril Domuschiev and the Bulgarian Navy Navy, which is the first under the "Junker Plan", is already served. Mavrodiyev pointed out that this credit is directly granted by the European Development Bank and not by BDB and that the bank is not relevant to it. The project, to which the BDB is a partner of the "Junker Plan", has a resource of 300 million euros that will be distributed through 6 commercial banks to small and medium enterprises. The contract with these banks is in the final stages and there are no plans yet, but these banks will approve and propose financing projects. According to Mavrodiev, the partnership will prove to the European Commission that BDB is working well, reaching thousands of small and medium sized businesses and helping to create jobs. Benovska asked his guest that he agreed with "Radio K2" and "Channel 3" to be a BDB media partner when he would start working on the Juncker plan. Mavrodiev expressed his agreement and welcomed all other media to work with the bank
Minister of Economy Karanikolov for the forum "16 + 1" and BDB
Benovska invited the Minister of Finance Economics Emil Karanikolov, who is also the principal of BDB and asked him to comment on his work at the bank. Karanikolov thanked Mavrodiev and his team for the agreement with China and said he hoped companies would benefit from the good conditions of the bank. The minister defined the 16 + 1 forum as the recognition of Bulgaria as a strategic point in Europe. According to him, China invests less than 200 million dollars in our country, but trade between the two countries is good and it is precisely the forum that will help boost Chinese investment in Bulgaria, but all this will be done according to European rules. Karanikolov concluded that the study had been long, but the first step was taken and Bulgarian companies could work
Benovska asked Mavrodiev if there are any requirements for the principal. Mavrodiev replied that the person who appointed him could not have any requirements, but pointed out that the government and the minister had never interfered in the activities of the Bank and had not put pressure on for the financing of certain projects but provided total support to all. important strategic tasks of the bank. Mavrodiev confirmed that they meet all the requirements and report to the principal, the government and the NBB everything they need. Benovska recalled that Karanikolov was a proposal of the patriots united in the coalition with GERB and Mavrodiev was a proposal of Karanikolov and asked if there was any tension. Both confirmed that they are working well with everyone and Mavrodiev explained that he is still a member of GERB, but that their work is professional and that the government should see the results of the bank's work.
Thus ended the conversation between Stoyan Mavrodiev and Iliana Benovska in the weekly political overview "Benovska pita" on "Channel 3" and "Radio K2" on July 8, 2018.
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