Tsanko Arabadzhiev: BDB Plays a Key Role in Delivering the State's Strategic Policies
BDB Executive Director Tsanko Arabadzhiev on the Bulgarian National Radio programme Nashiyat Den ("Our Day")
The Bulgarian Development Bank (BDB) plays a key role in implementing the state's strategic economic policies, supporting small and medium-sized enterprises (SMEs), and creating mechanisms to attract private investment. This was stated by BDB Chief Executive Officer Tsanko Arabadzhiev during an interview on the Bulgarian National Radio programme Our Day.
According to Arabadzhiev, one of the bank's most significant achievements has been securing nearly EUR 280 million under Bulgaria's Recovery and Resilience Plan for the residential energy efficiency programme. Following a series of negotiations with the European Commission, nearly EUR 280 million was entrusted to BDB for management after there had been a real risk that Bulgaria would lose these funds, he explained.
Arabadzhiev stressed that the bank has the necessary capacity to manage public resources, recalling that in 2023 BDB became the only financial institution in Bulgaria accredited to manage funding from the European Union budget.
The Chief Executive Officer also outlined BDB's broader role in supporting the development of the Bulgarian economy. In his view, the bank can play an active role in structuring public-private partnerships and developing financing mechanisms for strategic infrastructure and innovative projects.
"BDB can establish a mechanism through which all investors in Bulgaria could channel their funds into projects of national importance, including transport, energy and social infrastructure," he said. "A National Investment Fund managed by BDB could attract substantial private capital for the implementation of such projects. Internationally, these investments are regarded as low-risk and capable of delivering stable returns, which could change the way private investors in Bulgaria view this type of investment," Arabadzhiev added.
The Chief Executive Officer also presented BDB's financing opportunities for SMEs, start-ups and innovative companies. He emphasized that the bank does not compete with commercial banks but complements the market by providing financing for viable projects and businesses that face difficulties in accessing credit. "Our objective is not to maximise profit but to support the development of the Bulgarian economy by reaching companies that remain outside the focus of commercial banks," he said.
