site.btaEIB Vice President Pavlova: Reliable, Smart Infrastructure Key to Recovery, Economic Growth

Sofia, July 9 (BTA) - European Investment Bank (EIB)
Vice-President Lilyana Pavlova said reliable and smart
infrastructure is key to recovery, economic growth and job
retention and creation. She addressed the Business Forum which
opened on Thursday and is accompanying the Sixth Summit of the
Three Seas Initiative in Sofia.

Pavlova said the current situation resulting from the COVID
pandemic, with the opportunities and threats in the context of
recovery and resilience, climate and the digital transition,
requires resolute actions investment-wise.

She noted that the COVID pandemic, which has had a huge impact
on businesses, the economies and societies, requires a stronger
political reaction for rapid recovery. Establishing the European
 Innovation Ecosystem should be a priority for all, there is an
opportunity not to be missed - for making all investments
greener, supporting the digital transition and building
innovation capacity, she noted.

Addressing climate change should be one of the top investment
priorities, said Pavlova.

The crisis has accelerated the digital transition, which is a
new reality. The crisis highlighted the weaknesses as well as
the strengths, Pavlova commented, noting that the digital
infrastructure and the Innovation Ecosystems are very important
for Europe's and the region's competitiveness.

The EIB Vice President said all countries involved in the Three
Seas Initiative offer great investment opportunities and have
many advantages in terms of geographical location and skilled
labour force. They are backed by the EU and the EIB, she said.

Caretaker Economy Minister Kiril Petkov, who opened Day Two of
the Business Forum, recalled the takeaway from Thursday's
discussions and noted the strategic ideas, more specifically the
 idea of an additional fund promoting innovation. NV/DD