BDB Advisory Council Reviews Progress on National Programs

The Advisory Council to the Supervisory Board of the Bulgarian Development Bank (BDB) reviewed the progress of national programs implemented by the institution, the upcoming state priorities to be financed through the planned recapitalization, and the Bank’s financial report for the first half of 2025.

The Council brings together nationally representative employers’ organizations, the two major trade unions, and the National Association of Municipalities in Bulgaria. It serves as a mechanism for public oversight of the Bank’s activities, ensuring transparency and accountability. Representatives of both the Supervisory and Management Boards of BDB took part in the meeting.

Discussions focused on the Energy Efficiency Program under the National Recovery and Resilience Plan, as well as the second stage of the National Energy Efficiency Program with a budget of BGN 2.5 billion, where BDB will act as a financial agent. The Council also reviewed the BGN 900 million program for municipal capital expenditures in water supply and sewerage, infrastructure, healthcare, education, and other areas, along with a joint financial mechanism between BDB and the Electricity System Operator (ESO) to accelerate the deployment of renewable energy systems on public and municipal buildings.

“Thanks to BDB’s financial instruments and the European Commission’s trust in the Bank’s strong accountability, control, and transparency mechanisms, Bulgaria was able to secure the continuation of the energy efficiency program under the Recovery and Resilience Plan”, emphasized Delyana Ivanova, Chair of the Supervisory Board.

The meeting also addressed financing opportunities for Bulgarian companies involved in implementing projects aligned with national priorities, using the additional resources provided by the recapitalization. All programs will be subject to prior consultation with the Advisory Council, ensuring public oversight by employers, trade unions, and municipalities over the use of funds.

In line with the Law on the Bulgarian Development Bank and the Bank’s strategy, BDB is the only state-owned bank with a legal mandate to support public policies, reduce regional imbalances, promote sustainable investment, and finance small and medium-sized enterprises. The new resources will support the development of the water and sanitation sector, industrial parks, innovation, agriculture, security and defense, healthcare, and the green economy. The return on investments will ensure fresh resources for new projects, sustainable jobs, and additional budget revenues.

All funding will be deployed with full transparency, accountability, and public oversight, in line with the Bank’s Statute, which sets a BGN 5 million cap on financing for SMEs.