18.06.2019 Stoyan Mavrodiev: The Bulgarian Development Bank is ready to join the InvestEU Programme

The Bulgarian Development Bank declares its willingness to participate as implementing partner in the forthcoming major financial programme of the EC “InvestEU”. That was said by BDB’s Chief Executive Officer Stoyan Mavrodiev at the opening of the BDB International Economic Forum, which is held today under the name “Roads to Partnerships”.
The event marks the 20th anniversary of the bank as well, and this year is its second edition. The focus of the meeting is the European discussion under the InvestEU programme for the period 2021-2027 and its future potential in the SEE region.
Representatives of the public authorities, the EC, the EIB and the EBRD, as well as leaders of national promotional banks from the region, took part in the Forum. The InvestEU programme and its guarantee fund will be an important tool of the European Commission to stimulate investments for growth.
“The Bulgarian Development Bank is an institution with a leading role in the Bulgarian economy and the development of the region”, said the EC representative Florentine Hopmeier, member of the Cabinet of Vice President Jyrki Katainen, with portfolio “Jobs, Investments, Growth and Competitiveness.”
According to her, the involvement of national promotional banks as implementing partners in the program will allow support sectors that are not sufficiently covered in the EC investment policy so far. An example would be the assistance for start-ups and technology companies, which are considered to be riskier. A focus shall be placed on social investments, sustainable infrastructure, research, innovation and digitization.
Florentine Hopmeier said that Estonia, Romania and Bulgaria are the “winners” of the Juncker Plan, in which the Bulgarian Development Bank is a partner. She added that Bulgaria ranking third beneficiary country is a great achievement, and she shared her expectations that a tangible support for the companies in the region shall be mobilized with the assistance of national promotional banks.

The “InvestEU” does not exclude public investment and therefore BDB can support the government’s efforts to overcome the challenges in the physical, network and social infrastructure, explained Stoyan Mavrodiev.

Following the successful initiative for energy saving measures in Bulgarian homes, the Bank is ready to structure and finance a program for the construction of kindergartens in the country.
“Potential support for cross-border projects is to be discussed and that is of particular importance to our partners from the EU member countries in the region,” he added.