DGKV has acted as local counsel to the Export-Import Bank of China with regard to a EUR 50 million loan facility extended to the Bulgarian Development Bank for on-lending to customers in the form of mid or short-term trade financing transactions.
According to DGKV, the funds will be used to support Bulgarian enterprises, to finance commercial operations, and to support the economic cooperation between Bulgaria and China. This is the first facility agreement between the two institutions following the Financial Cooperation Agreement they entered into in 2014, which envisages joint financing of key projects or areas.
DGKV advised on matters of Bulgarian law related to the facility agreement and the due diligence exercise of Bulgarian Development Bank, including on the matter of government support and state aide clearance. The firm's team was led by Partner Nikolai Gouginski, assisted by Senior Associate Kaloyan Krumov and Associates Dimo Staykov, Lora Aleksandrova, Vladislav Antonov, Simeon Vachev, and Vlada Tsenova.
Image source:Â bbr.bg
