site.btaEIB Vice-President Pavlova: Bank Ready to Support Green Transition in Bulgaria

The European Investment Bank Group (EIB) is ready to support Bulgaria with all the means at its disposal to make this country's green transition more favourable for both companies and people - a fair transition where no one is left behind, EIB Vice-President Lilyana Pavlova said in an interview with BTA.

Lilyana Pavlova is the first Vice-President from Bulgaria at the EIB. Her term, which began in November 2019, expires this month.

Last year, the EIB's green financing in Bulgaria reached EUR 241 million, which is 50% of the bank's total activity in the country, and this is a very good result, Pavlova said. These investments include funds allocated to the Sofia Metro, which reduces emissions and improves urban mobility. "Through our cooperation with the FLAG Fund, we have also supported investments in improving energy efficiency in smaller municipalities," she noted.

"We are ready to support Bulgaria on its path to reduce dependence on fossil fuels by financing renewable energy and energy efficiency projects," Lilyana Pavlova added.

She noted the good cooperation between the EIB and Bulgaria, pointing out that over the last few years the annual investments of the bank in the country have increased significantly.

Pavlova reported that for 2022, the bank's investments in Bulgaria are almost half a billion euro, and the previous year was also a record year, especially in terms of support for small and medium-sized enterprises in the country, where the EIB works with almost all major commercial banks in the country. Lilyana Pavlova also noted investments in public infrastructure and municipal projects, which are another important element of cooperation with Bulgaria.

Lilyana Pavlova has been Vice President of the European Investment Bank since 1 November 2019 and is responsible for cohesion policy; the advisory services provided by the Bank, digital transformation and IT management of the Bank; enlargement policy (Western Balkans and Turkiye); and EIB financing operations in Bulgaria, Cyprus, Slovakia, Slovenia, Czechia, the Western Balkans and Turkiye.