The Chairperson of the SB of the BDB, Delyana Ivanova, took part in the discussion forum of NAMRB
The Chairperson of the Supervisory Board of the Bulgarian Development Bank, Delyana Ivanova, took part in the discussion forum “Opportunities and Challenges for Local Finances in 2026” organized by the National Association of Municipalities in the Republic of Bulgaria. Before representatives of local authorities, Ivanova presented the programs implemented by the state-owned bank in support of municipalities and answered specific questions related to their implementation and payments.
Within the framework of the municipal investment program, concrete cases were discussed and additional information was provided regarding the payment mechanism. “BDB does not carry out a substantive assessment of expenditures, but, in accordance with a decree of the Council of Ministers, it is obliged to ensure that funds are transferred to project contractors, thereby monitoring the appropriate use of resources,” Ivanova explained. She added that since the end of last year BDB has been making payments under municipal investment projects.
The Chairperson of the Supervisory Board of BDB also highlighted the bank’s special program providing working capital financing to construction companies that have concluded contracts with public contracting authorities for the implementation of activities with secured budgets.
Following approval by the European Commission and a decision of the Council of Ministers, BDB also manages the residential building renovation program financed under the Recovery and Resilience Plan, with a current budget of nearly EUR 247 million. Ivanova pointed out that all financing agreements with municipalities must be concluded by June 2026, while the deadline for completion of activities is the end of 2029. All projects with signed contracts under Stage 1 and Stage 2 are already being transferred to BDB, with grant financing for both stages amounting to 100%. Ivanova further clarified that no new application procedure will be conducted, as the necessary documentation will be transferred from the Ministry of Regional Development and Public Works to BDB through the Information System for Management and Monitoring of EU Funds (ISUN).
