site.btaPM Borissov Confers with EBRD President

PM Borissov Confers with EBRD President

Sofia, September 19 (BTA) - The European Bank for Reconstruction and Development (EBRD) will continue to partner Bulgaria in the implementation of strategic projects, including under the Fund Manager of Financial Instruments, it emerged during a meeting Monday between Bulgarian Prime Minister Boyko Borissov and EBRD President Suma Chakrabarti.

Along with Deputy Prime Ministers Tomislav Donchev and Finance Minister Vladislav Goranov, the two discussed cooperation between Bulgaria and the EBRD and possibilities to carry out future projects of mutual interest.

"EBRD's support shows the trust of European institutions in Bulgaria and the job we are doing. It reaffirms the stability of Bulgaria's financial system and that the institutions involved in project implementation are highly professional. Bulgaria's successes in the fight against contraband and reducing the budget deficit have also strengthened the trust of Bulgaria's international partners," said Borissov. According to him, Bulgaria can afford to implement on its own principal projects but the partnership with institutions such as the EBRD is key to shoring up solidarity between partner countries on a global scale.

EBRD President Chakrabarti voiced satisfaction with Bulgaria's high economic growth and the stability of the Bulgarian economy of the last quarters. Chakrabarti outlined the main areas into which the EBRD will channel its investments and consultancy services: primarily the energy and water sector, municipal services and boosting the competitiveness of the private sector. According to the EBRD President, the establishment of the Fund Manager of Financial Instruments by Bulgaria is an example for innovative management decision which will be of huge benefit to the country in the implementation of significant projects mostly by the private sector.

The meeting discussed the work of the EBRD for a bond issue for the Bulgarian Energy Holding and the negotiation of a loan for the Sofia City Hall for the purchase
of electric vehicles for the city transport in the capital.