Bulgaria: BGN 50 million in state money for the shipbuilding industry

Bulgaria was set to provide a BGN 50 million credit line to the shipbuilding and ship repairs sectors, PM Sergey Stanishev announced in Varna yesterday. In his words, the money would come from the state budget and would be managed by the Bulgarian Development Bank (BDB). Financing was scheduled to commence in the week to follow and the interest rate for end borrowers would be 8%.
PM Stanishev also said the tourism mainstay in Bulgaria would also benefit from a similar stimulus package.