15.05.2024 A new BDB strategy for the period 2024-2026 is being developed

A working group of institutions and experts will identify public sector priorities in the implementation of which the Development Bank can play a key role

The first formal meeting of an interdepartmental working group was held at the Ministry of Innovation and Growth. It was established by order of Prime Minister Dimitar Glavchev and aims to outline the priority sectors and economic activities for the country's economy in which the Bulgarian Development Bank (BDB) could be involved, as well as to adopt policies to reduce regional imbalances.

The group is headed by the Minister of Innovation and Growth Rosen Karadimov and includes the Deputy Minister of Finance Stefan Belchev, Deputy Minister of Economy and Industry Nikolay Pavlov, Deputy Ministers of Innovation and Growth Veselina Mincheva and Krasimir Yakimov, Deputy Minister of Regional Development and Public Works Veselina Terziyska, Deputy Minister of Defence Adelina Nikolova, Deputy Minister of Energy Iva Petrova, Deputy Minister of Transport and Communications Boris Gerasimov, Deputy Minister of Health Boyko Penkov, and Deputy Minister of Tourism Irena Georgieva. The group is also comprised of representatives of the national employers' organisations, trade unions and the National Association of Municipalities in the Republic of Bulgaria, which are also members of the Advisory Council to the Bulgarian Development Bank.

The main priorities, around which the members of the working group have united, are programmes providing support and control of the use of funds in strategic sectors such as health, security, defence and military-industrial complex, water supply and sewerage, and energy.

BDB’s role in the implementation of public investments and projects of priority for the economy is being discussed, including the National Capital Investment Programme, with support in analysis, appraisal, targeting and financing.

Among the proposals is the support of the state policy for efficient use of public funds in the planning and implementation of concessions. Also, funding for infrastructure projects ensuring transport and communication connectivity, promotion of regional development by supporting industrial zones, municipal projects, renewable energy projects for own use, etc.

The working group participants agreed on the need to adapt the Bank's business and institutional model and maintain the country's current priorities for financing small and medium-sized businesses, innovation, digitalization and sustainability.

Once the strategic conceptual framework for BDB's operations is developed, the Bank should be approved by the Council of Ministers and the changes reflected in the Bank's regulations. The aim is to start its transformation into a fully-fledged development bank.

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