29.06.2023 BDB launches debate on creation of new 2024-2026 Strategy with businesses, trade unions and municipalities

The management of the Bank and representatives of national employers' organizations, leading trade unions and the National Association of Municipalities in the Republic of Bulgaria discussed the priorities of the new operational strategy of the Bulgarian Development Bank for the 2024-2026 period. Deputy Minister for Innovation and Growth, Martin Gikov, also took part in the event.

For the first time since the establishment of the Bank, BDB’s objectives and priorities will be defined together with the business sector, trade unions and local authorities, which are part of the Bank’s Advisory Board. The meeting also included a presentation on the mission and strategic objectives of national development banks in Europe, which have a counter-cyclical role, provide risky loans and implement public policy measures, often with social and environmental effects.

"This debate is extremely important and timely. The role of the state in it is key because a dialogue with the Bank, businesses, trade unions and local authorities should outline the current strategic goals and priorities of BDB, which are a function of the policy pursued by the state", said Assoc. Prof. Rosen Karadimov, PhD, BDB’s Supervisory Board Chairman.

Deputy Minister Martin Gikov stressed that BDB is an important instrument for the implementation of state policy to support SMEs and the most affected sectors of the economy.

"It is extremely important for the Ministry of Innovation and Growth to be where the voice of businesses and institutions is heard, so that we know how to best calibrate the financial instruments to support businesses in Bulgaria," said Gikov.

Six projects for nearly BGN 4.5 million have already been approved under the Bank's programme for accelerated absorption of EU funds launched in June, and six more are in the process of approval.

The members of the Advisory Board were also introduced to the advantages of the upcoming program for financing companies with a works contract for energy efficiency of buildings.

BDB’s Advisory Board was established in February 2023. Its purpose is to provide a direct link between the Bank and the business community, to streamline the process for creating new financial products and to support public scrutiny of the Bank's operations.