site.btaFinance Minister Welcomes European Investment Bank President to Bulgaria for Partnership Talks

Finance Minister Lyudmila Petkova met with European Investment Bank (EIB) President Nadia Calvino, who is making her first official visit to Bulgaria since taking office in January 2024, the Finance Ministry said here on Wednesday. Petkova and Calvino talked about the future partnership between the EIB Group and Bulgaria. Topics covered included assistance with utilizing EU funds under shared management, implementing the Recovery and Resilience Facility, and exploring potential investments for reforms and actions necessary for a balanced and sustainable transition to climate neutrality for Member States.

"The EIB has been a long-standing partner of Bulgaria, and we appreciate the financial support and advisory services provided by the EIB, and the constructive cooperation with Bulgarian authorities on issues of mutual interest in various areas. The impact of this support is noticeable. Significant investments will be required to implement the reforms and measures necessary to achieve the goals of the green transition, circular economy, and digitalization, and we will rely on the EIB's commitment and ability to develop and deliver new products and innovative solutions tailored to the specific needs of countries," Petkova said. 

Calvino said that the EIB Group's advisory services and financing are transforming Bulgaria, improving infrastructure, and supporting economic growth, jobs, and the country's prosperity. Her message to Bulgarian households, entrepreneurs, innovators, and farmers is that they can count on the EIB Group's strengthened commitment in the coming months and years.

Since starting its operations in Bulgaria in 1992, the EIB Group has provided a total of approximately EUR 10 billion in funding, covering investments in the sectors of energy, transport, pharmaceuticals, the food industry, regional and municipal development, water supply and sanitation, waste management, environment, healthcare, satellite technology, research and development, and more. In 2023, the EIB Group supported the Bulgarian economy with EUR 1.11 billion in new loans, guarantees, and other financial instruments.

The meeting also focused on the EIB's active role in offering loans to the private sector for financing projects for small and medium-sized enterprises (SMEs) and mid-cap companies, which drive growth and development and significantly contribute to Bulgaria's GDP. So far, the bank has provided lines of credit to intermediary banks to support SMEs in Bulgaria, totalling over EUR 2.46 billion, with EUR 774 million financed in 2023 alone.