Delyana Ivanova: Successful Implementation of the RRP Building Renovation Programme Will Pave the Way for BDB to Manage More EU Funds
Under the National Recovery and Resilience Plan, the bank manages approximately EUR 330 million for the renovation of residential buildings.
The successful completion of the building renovation programme under the Recovery and Resilience Plan (RRP) by the Bulgarian Development Bank (BDB) will demonstrate that Bulgaria has a reliable mechanism for managing European funds. This could create opportunities for BDB to be entrusted with additional projects in the future and allow for more flexible use of EU funding, ensuring that Bulgaria does not lose funds due to tight implementation deadlines.
This was stated by Delyana Ivanova, Chair of BDB’s Supervisory Board, during the Annual Meeting of Local Authorities.
“Through the joint efforts of BDB, the Ministry of Finance, and the Ministry of Regional Development and Public Works, we succeeded in convincing the European Commission that the Bank is a reliable partner and that the funds could be transferred to BDB for management. Now we share a common responsibility – to ensure that the projects are implemented to a high standard, properly reported, and paid for,” Ivanova said.
Under the National Recovery and Resilience Plan, BDB manages approximately EUR 330 million for the renovation of residential buildings whose refurbishment could not be completed within the plan’s original deadline. All agreements with municipalities were signed by 31 August, and the implementation period is three years. The programme covers 630 residential buildings in more than 100 municipalities, with a total gross floor area of nearly 1.3 million square metres. The approved projects are eligible for 100% grant financing following the completion of the necessary checks.
Project payments will be made following verification by the bank and submission of the required documentation. Ivanova emphasised that the successful implementation of this initiative could have implications beyond the programme itself. As European requirements and deadlines become more stringent, the ability to manage funds through a national development bank could help ensure their more effective and complete utilisation.
“Across Europe, national development banks are major public institutions that translate government priorities into concrete financial programmes and support projects across a wide range of sectors – from small businesses and innovation to social housing and infrastructure.”
BDB can support municipalities and their contractors by providing bridge or supplementary financing for projects backed by national, municipal, or EU budgets. The bank oversees the use of funds, while municipalities make payments to contractors once the satisfactory completion of the work has been confirmed.
In addition to its traditional support for small and medium-sized enterprises, BDB offers financing programmes for the water supply and sanitation sector and hospitals, as well as financing opportunities under programmes of the Ministry of Youth and Sports.
“The Bank can be a partner to the government and municipalities in implementing important projects. We are ready to discuss their specific needs and offer solutions, including bridge or supplementary financing,” added the Chair of BDB’s Supervisory Board.
