30.03.2023 BDB signed a memorandum of cooperation with the Transparency without Borders Association

Bulgarian Development Bank and Transparency without Borders Association signed a memorandum of cooperation in the field of anti-corruption and the introduction of additional management rules and good practices in the bank’s group. The document was signed by the chair of BDB’s Management Board and Executive Director, Iliya Karanikolov, and Kalin Slavov, Executive Director of the Association.

The initiation and implementation of methods and programs to combat corruption is the main priority of the Transparency without Borders Association, which is part of the international organization Transparency International. The Association’s experts will analyze what has been achieved so far in the bank’s group, getting to know the internal rules and procedures in detail.

Since the end of 2021 until now, BDB has been actively working to ensure good governance in its organization. The bank and its subsidiaries follow a policy of zero tolerance for illegal or unethical business conduct. The institution has drawn up a "road map" with 24 key areas of action and has introduced a system of effective anti-corruption policies and procedures.

Since 2022, channels for reporting irregularities have also been introduced. On the official website of BDB, the so-called whistleblowing button has been introduced and any reports are forwarded to an independent law firm for review.

The cooperation will allow to implement the principles of business integrity in the bank’s group, as well as to increase accountability and transparency in the use of public resources.