20.11.2024

Deputy Prime Minister and Minister of Finance Lyudmila Petkova met with the President of the European Investment Bank (EIB) Nadia Calviño who is on her first official visit to Bulgaria after taking office in January 2024. The future partnership between the EIB Group and our country was discussed during the talks. The opportunities for assistance in the absorption of European funds under shared management, the implementation of the Recovery and Resilience Facility and the possible investments for implementation of the reforms and measures needed to achieve a balanced and sustainable transition of the member states towards climate neutrality were among the topics of the meeting. “The EIB is a long-standing partner of Bulgaria and we appreciate the financial assistance and the advisory services provided by the Bank as well as the constructive cooperation with the Bulgarian authorities on issues of mutual interest in a number of areas. The effect of this support is noticeable. Significant investments will be required to implement the reforms and measures necessary for achieving the goals of green transition, circular economy and digitalization, and we will rely on EIB’s commitment and its ability to develop and provide new products and innovative solutions tailored to the specific needs of the countries”, Deputy Prime Minister Petkova underlined. “Our advisory services and financing are making a difference in Bulgaria, improving infrastructure and supporting growth, jobs and prosperity” said President Calviño. “My message to Bulgarian households, entrepreneurs, innovators and farmers is that you can count on EIB Group’s stepped-up commitment in the months and years ahead.” 

Since the launch of its operations in Bulgaria in 1992, the EIB Group has provided financing to our country totalling around EUR 10 billion for investments in energy, transport, pharmaceuticals and food industry, regional and municipal development, water supply and sewage, municipal waste treatment, environment, health, satellite technologies, research and development, etc. Last year alone, the EIB Group supported the Bulgarian economy with EUR 1.11 billion in the form of new loans, guarantee commitments and other financial instruments.

It was highlighted during the meeting that the EIB's had an active role in granting loans to the private sector for financing projects for small and medium-sized enterprises and mid-cap companies which are drivers of growth and development and account for a significant share of Bulgaria's gross domestic product. So far, the Bank has provided credit lines to intermediary banks to support small and medium-sized enterprises in Bulgaria totalling over EUR 2.46 billion, with financing of EUR 774 million in 2023 alone.