28.11.2019 Eva Witt: The Bulgarian Development Bank is a great long-term partner of KfW

Eva Witt: The Bulgarian Development Bank is a great long-term partner of KfW

"We have a wonderful long-standing cooperation with the Bulgarian Development Bank. We have signed two loans - in 2010 and in 2016 - for EUR 125 million for energy efficiency in the construction sector. BDB is a valuable and reliable partner for us”, said Eva Witt, Director of Federal and European Affairs at the German Development Bank KfW, who has over 20 years of experience in project funding, financial system development and infrastructure financing.
She was in Sofia and attended the annual meeting of the European Investment Fund (EIF) shareholders, which this year was hosted by BDB.
Senior executives of 26 European financial institutions, as well as representatives of the Fund, the European Commission and the European Investment Bank, took part in the forum. The discussions focused mainly on the details of the new InvestEU financial framework, which is to succeed The Juncker Plan in the 2021/2027 period.
In this regard, Witt expressed strong satisfaction that the European Commission would continue the Juncker Plan. "I think the program so far has been a very big political signal for the support of both investments across Europe and corporations between different European partners. I am pleased that the European Commission has decided to continue this financial plan, which InvestEu guarantees, and to extend the access to the program to various partners and national development banks. We have drafted the regulations and the European Commission is working on optimizing the InvestEU program", said Wit.
According to her, from now on, everyone must work together to make sure that InvestEu really works and benefits businesses and projects that need to be supported in different countries.
When asked what the prospects for the national development banks are in the new budgetary period, given that they will be granted a new status of implementing partner, the expert explained that initially the EC had allocated 25% of the guarantee fund to development banks. This will attract new entrants, which means more ideas and innovation. "What we, the development banks, are giving is the experience with the local business and its needs. I think it will be very useful to develop together the various programs that the business and the community need," Witt said.