Bulgarian Developmen Bank will finance the municipalities with 3,4 mlrd BGN

The implementation of the programs and the opportunities for the business were discussed at the regular meeting of the Advisory Council to the Supervisory Board of the BDB with the participation of the Minister of Regional Development and Public Works Ivan Ivanov. Representatives of the nationally representative employers' organisations, the two trade unions and the National Association of Municipalities in the Republic of Bulgaria participate in the Advisory Council.

Regional Development Minister Ivan Ivanov said that the government is launching a long-awaited investment program of BGN 1.650 billion. Of this amount, BGN 750 million are provided by the state budget for the payment of both started and unpaid municipal projects and those starting this year. In addition to the resources, the Bank is providing another BGN 900 million for the implementation of the investment program.

"The Bulgarian Development Bank has a key role as a long-standing partner of the Ministry of Regional Development and Public Works in both phases of the national renovation program.  In the implementation of the investment projects, the guiding principle will be the equality of municipalities, without party discrimination," said Regional Minister Ivan Ivanov.

Deputy Chairman of the National Bank of Bulgaria Delyana Ivanova stressed that the Bank is fulfilling one of its key roles in supporting the state to implement public policies. "BDB will support the timely construction of education, water supply, health and road infrastructure. This will improve the lives of people in the settlements," Ivanova explained.

"BDB will oversee the regular and timely payments to all contractors, ensuring good business turnover and supporting economic development. Through the Advisory Council of the BDB, we will maintain an active dialogue with all stakeholders - business, local government, trade unions and government institutions to ensure the program payments to municipalities and businesses," said the Chairman of the SB of BDB, Assoc. Prof. Rosen Karadimov.

For the Advisory Council of the BDB

The Advisory Council of the BDB, established in 2023, aims to ensure transparency, public scrutiny and regular liaison between the bank and the actual sector. Thus, it is helping the creation if new financial instruments which is beneficial to the country's economic development.