site.btaUPDATED EBRD Launches Tech Sofia Hub to Support Operations, Boost Digital Innovation in Bulgaria

European Bank for Reconstruction and Development (EBRD) Vice President for Banking Matteo Patrone and Bulgaria's Deputy Prime Minister and Economy, Investments and Industry Minister Alexander Poulev opened EBRD's Tech Sofia technology hub on Thursday. EBRD Tech Sofia will support the institution's operations across all its lines of business.

Deputy PM: EBRD Is Gold Standard

Speaking at the launch of the technology hub, Poulev said that, as a gold standard in international development finance, the EBRD is a key investor and one of the largest institutional financial partners of successive Bulgarian governments, as well as one of the State's longest-standing partners across the entire spectrum of growth instruments.

Poulev, who noted that he had spent six years of his career at the EBRD, said that since 1991 the institution has invested more than EUR 5 billion in over 320 projects in Bulgaria. He said the bank's activities had successfully combined support for both the public and private sectors, including industry and small and medium-sized enterprises (SMEs).

The Deputy Prime Minister said the EBRD had helped Bulgaria navigate the long and arduous road towards a functioning market economy. In addition to financial resources, the partnership has brought improvements in corporate governance, social responsibility, the green transition, and the adoption of international best practices and standards. With the bank's support, Bulgarian businesses have increased productivity and integrated more effectively into supply chains in Bulgaria, the region and across Europe, he said.

Poulev said the Government had launched a number of reforms, noting that within a single month it had completed the consolidation of investment policies, agencies and structures under the umbrella of the Economy Ministry. A competence centre has been established under the Ministry of Innovation and Digital Transformation. State policy will focus on the deployment of artificial intelligence and advanced technologies, both to optimize public administration processes and to help SMEs improve productivity.

The Deputy PM stressed that Bulgaria is no longer on the periphery and should instead be at the centre of European policymaking. He recalled that this message had been clearly articulated by Prime Minister Rumen Radev during official visits to Brussels, Germany and France. "Bulgaria is not merely an onlooker of the fifth industrial revolution driven by AI but aspires to be a key player and, with the EBRD's support, to become a leading technology hub in the Balkans," Poulev said.

"Future focus will be placed not only on traditional financial instruments but also on equity investments and strengthening policy dialogue," he said.

EBRD Vice President: Bulgaria Is Important Market

Addressing the Tech Sofia opening ceremony, Patrone described the event as a clear signal of Bulgaria's sustained capability of growing and pursuing innovation. The launch of the hub tangible expands the EBRD's presence in this country, setting up a future-oriented centre of excellence with a focus on cloud technologies, AI, cybersecurity and development of the bank's core platform, the Vice President added. 

He said Bulgaria was picked to host the hub for its strong and competitive technological ecosystem, excellent connectivity, a vibrant startup community, and the availability of highly qualified staff trained by leading universities.

In his words, Bulgaria is an important market for the EBRD, and the bank identifies possibilities for boosting investment both in the private sector and in key pubic-sector areas.

The bank is exploring further options to back the country's ambitions to attract foreign direct investments, improve connectivity and support innovative enterprises, as well as its competitiveness in general, Patrone said.

He acknowledged the exceedingly constructive talks held with the Bulgarian Government this week and noted that the EBRD is considering opportunities for expanding infrastructure investment and help the country absorb more funding in priority areas, including a further development of the financial ecosystem, support for innovations and attracting foreign direct investments. In his words, other options that are being considered are support for the energy sector, enhancement of energy security, and speeding up the decarbonization of the Bulgarian economy. 

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The Tech Sofia hub, located on the premises of the EBRD 's new Sofa office in the landmark Green Tower building, will initially employ 50 IT professionals specialized in cloud technologies, software engineering, banking software, cybersecurity and AI, with the number planned to grow to over 100.

Bulgaria is a host of the hub under an agreement signed in 2025 by the EBRD and the Bulgarian Government of Bulgaria that strengthens their long-standing partnership and sets the framework for expanding the Bank's presence in the country while also strengthening ties within the technology community, including partnerships with universities, a graduate programme and cooperation with local industry associations. Accelerating the green economy transition; boosting competitiveness by deepening financial intermediation, enhancing value chains and promoting innovation; and strengthening economic resilience and regional integration are the EBRD's main priorities in Bulgaria under its five-year strategy adopted last year.

The EBRD has been active in Bulgaria since 1991 and has invested more than EUR 5 billion in over 320 projects in sustainable infrastructure, finance, industry, trade and agribusiness across the country. In Bulgaria, the EBRD focusses on making local firms more competitive at home and abroad, financing modern, sustainable infrastructure, and developing financial products and capital markets, as the country adopts the euro. In 2025, the bank's investments reached EUR 300 million, significantly exceeding the average annual level recorded in the previous five years, while EUR 200 million has already been invested in 2026.