site.bta European Bank for Reconstruction and Development Doubles Investments in Bulgaria in 2024

The European Bank for Reconstruction and Development (EBRD) has more than doubled its investments in Bulgaria in 2024 compared to 2023, the institution said on Thursday.

The EBRD has provided the country with financing in the amount of EUR 272 million during 2024 for 20 separate projects, while in 2023, the value of the financing provided amounted to EUR 117 million for 14 projects. Thus, implemented investments from the EBRD in Bulgaria were at their highest level since 2016.

Over 90% of the investments in 2024 were directed to support the accelerating green transition in Bulgaria, with all EBRD projects in Bulgaria being in the private sector in 2024. "The EBRD strongly supports Bulgaria's ambition to increase its energy security and expand its green energy capacity, which has attracted significant investor interest. We also want to support businesses to invest in their future and sustainable development, and for this to happen successfully through 2024, by working with local commercial banks," commented Manuela Nesl, head of EBRD in Bulgaria.

In 2024, the EBRD has also supported Bulgaria's ambitions under the Recovery and Resilience Plan by supporting the country's renewable energy tenders for 3 GW of renewable energy and 1.17 GW of storage capacity.

According to the EBRD, 2024 was a record year for the institution in general, reporting investments in the various regions in the amount of  EUR 16.6 billion, compared to the previous record achievement of EUR 13.1 billion. The institution also financed a record 584 projects, with 76% of the investments directed to the private sector, which corresponds to a record financing volume of EUR 12.5 billion. The total amount of investments that the EBRD has unlocked from all sources in 2024 amounts to EUR 26.7 billion.

During 2024, which was marked by geopolitical tensions around the world, the EBRD also reported a record share of green projects, with financing of the green economy amounting to 58% of the total investment volume of the institution in 2024. The bank's portfolio reached EUR 61.9 billion in 2024, while operating assets reached EUR 42.1 billion, exceeding the EUR 40 billion mark for the first time.