site.btaFinance Minister Petkova Discusses Cooperation with European Investment Bank President Nadia Calvino

Cooperation with the European Investment Bank (EIB), including in the context of the European Commission's new initiatives in the field of defence and security, was discussed by Finance Minister Temenuzhka Petkova at a meeting in Brussels with the President of the international financial institution, Nadia Calvino. This was announced by the Ministry of Finance on its website on Tuesday.

Minister Petkova, who is also currently the rotating Chair of the EIB's Board of Governors, praised the institution's leading role in the context of the upcoming challenges of the complicated geopolitical environment.

The meeting, which was also attended by the Deputy Minister of Finance Metodi Metodiev, talked about the upcoming commitments in the Bulgarian Minister of Finance's mandate as Chair of the Board of Governors. Opportunities for EIB cooperation and investment in Bulgaria in the context of the Bank's expanded mandate were also discussed. It was noted that EIB will continue to provide financing in support of key strategic priorities both within and outside the EU.

Minister Petkova is on a working visit to Brussels to participate in the regular meeting of the Economic and Financial Affairs Council of the European Union (ECOFIN) held on Tuesday.

The European Commission presented two Omnibus packages that will contribute to reducing administrative burdens. Minister Petkova supported the EC's efforts to simplify the sustainability reporting framework so as to better balance climate objectives and business competitiveness. Bulgaria supported measures to reduce unjustified regulatory, financial and administrative burdens, both on small and medium-sized enterprises and on national competent authorities. The Commission's intentions to introduce a so-called de minimis threshold and measures to facilitate reporting and compliance are positive steps, the Communication noted.

At the same time, Bulgaria identifies the need for further efforts to strengthen measures against potential abuses and in particular tools to provide assurance on the reliability of data reported by importers.

Minister Petkova supported the proposal to simplify and streamline the use of investment programmes, including InvestEU, the European Fund for Sustainable Development Plus, etc.

The Council reached agreement on the directive on administrative cooperation in the field of taxation and adopted implementing decisions approving the amended recovery and resilience plans of Belgium and Ireland.