December 2021 – Kinstellar has advised the Black Sea Trade and Development Bank (BSTDB) on its "Framework Agreement for Pandemic Crisis Response Programme" that will be implemented together with the National Guarantee Fund (NGF).

Тhe risk-sharing portfolio guarantee programme is expected to promote up to EUR 75 million of new financing and help about 250 local SMEs to offset the negative impact of COVID-19 in Bulgaria. The programme will offer guarantees to Bulgarian commercial banks, facilitating access to finance and improving financing conditions for final borrowers. 

Kinstellar assisted the BSTDB with both the English law and Bulgarian law aspects of the programme, including the drafting and negotiation of the Guarantee Framework Agreement and related documentation.

Kinstellar's team was led by Counsel Svilen Issaev and included Partner Květoslav T. Krejčí, Prague, and Associate Nikolay Gergov.