site.btaCabinet Approves Three-Year Strategy for Bulgarian Development Bank

Meeting on Wednesday, the caretaker Cabinet approved a new strategy of the Bulgarian Development Bank (BDB) for the 2024-2026 period, the Government Information Service said on Wednesday. The previous strategy expired at the end of 2023.

The strategic conceptual framework for BDB's operations in support of public policies and sectors was developed by an interdepartmental working group of representatives of eight ministries (finance, economy and industry, innovation and growth, regional development and public works, defence, energy, transport and communications, health, and tourism), of all nationally representative employers' organizations, the Podkrepa Confederation of Labour and the Confederation of Independent Trade Unions in Bulgaria, the National Association of Municipalities in the Republic of Bulgaria and experts. 

Small and medium-sized enterprises, innovation and digitization remain in the focus of BDB's support. The strategy will enable the bank to develop its functions fully by contributing to the achievement of economic growth by financing of public investments and support for national policies, including such that help reduce regional disparities. 

The new strategy is intended to enable the Bank to support sectors that the State regards as strategic, such as healthcare, security, defence and the military-industrial complex, water and sewerage, energy, transport, health infrastructure, social infrastructure and educational infrastructure and agriculture, as well as the transition to a green economy and a circular economy.

BDB will be promoting regional cohesion and will assist the implementation of public investments by supplementing and applying European and national funds. The bank will channel its financing into priority projects with maximized impact, including in cooperation with the private and public sector and the local authorities.