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International Asset Bank signed a frame agreement for strategic cooperation with the Bulgarian Association of Regional Development Agencies (BARDA) in support of small and mid-size enterprises and municipalities.

21 July 2007

On July 20, 2007 International Asset Bank signed during an official ceremony held at the Bank the first frame agreement concluded between a bank institution and non-governmental organization in Bulgaria supporting small and mid-size enterprises and municipal authorities in the absorption of the financial resources granted by EU-funds.

 

The bilateral agreement with BARDA (Bulgarian Association of Regional Development Agencies and Business Centers) focuses on the principal needs of BANK’s and BARDA’s customers, namely expert consultation and project development, advance financing of the project costs, including VAT, until payment of the grants on the part of state administration.

Well distributed BARDA’s and BANK’s regional structural network shall additionally accelerate and facilitate the process of complex customer servicing.