12.11.2024 BBR, EBRD, and EIB Held a Discussion on Climate Change Financing

National public banks are a powerful tool for addressing the challenges related to climate change. They can achieve a balance between economic growth and climate goals, as they have the flexibility to finance long-term projects with social and environmental benefits. This was the consensus reached by Delyana Ivanova, Chair of the Supervisory Board of the Bulgarian Development Bank (BBR), Jurgen Rigterink, First Vice-President of the European Bank for Reconstruction and Development (EBRD), and Ambroise Fayolle, Vice-President of the European Investment Bank (EIB), during the UN World Climate Conference COP29, currently being held in the capital of Azerbaijan, Baku.

The event was also attended by the Minister of Innovation and Growth, Rosen Karadimov, who is the main organizer of the Bulgarian pavilion at the forum. According to him, securing financing to support sustainable industrialization and economic growth is a challenge that requires innovative approach to ensure prosperity while adhering to climate neutrality goals.

The discussion that kicked off the second day of COP29 was moderated by Lilyana Pavlova, Vice-President of the EIB (2019-2023), and included participation from Iliana Tsanova, Deputy Director-General of DG Budget at the European Commission, Krasimir Yakimov, Deputy Minister of Innovation and Growth, and Philipp Offenberg, Director for Europe at Breakthrough Energy.