site.btaInnovation Minister Advocates for Sustainable Funding Solutions at COP29

Minister of Innovation and Growth Rosen Karadimov highlighted the challenges of securing funding for sustainable industrialization and economic growth at the UN Climate Conference COP29 in Baku, emphasizing the need for innovative approaches to achieve prosperity while meeting climate neutrality goals, the Ministry's press service said on Tuesday.

National public banks play a vital role in addressing climate change challenges. They can balance economic growth with climate goals by funding long-term projects that offer social and environmental benefits. This view was expressed and supported by Delyana Ivanova, Chair of the Supervisory Board of the Bulgarian Development Bank, Jürgen Rigterink, First Vice President of the European Bank for Reconstruction and Development, and Ambroise Fayolle, Vice President of the European Investment Bank.

The forum, moderated by former EIB Vice President Lilyana Pavlova, also featured Iliana Tsanova, Deputy Director-General of the European Commission’s Directorate-General for Budget, Krasimir Yakimov, Deputy Minister of Innovation and Growth, and Philipp Offenberg, Director, Europe at Breakthrough Energy.

Bulgaria's participation in COP29, the UN Climate Change Conference in Baku, marks the second consecutive year the country has hosted its own pavilion. Led by President Rumen Radev, the Bulgarian delegation includes key government officials and representatives from finance, academia, and industry, showing Bulgaria’s commitment to climate diplomacy and regional leadership in climate action.

The discussions at the Bulgarian pavilion focus on mobilizing capital for climate projects, enhancing net-zero competitiveness, and fostering green initiatives across Southeastern Europe. Topics span from the role of multilateral finance to women’s impact on climate action, with a significant focus on leveraging science, innovation, and cross-border cooperation to meet the EU’s climate goals.