site.btaParliament Ratifies Agreement with EBRD Allowing Bank to Open Technology Centre in Bulgaria

Parliament adopted on first and second reading, in a single sitting here on Wednesday, the bill ratifying the Agreement between the Republic of Bulgaria and the European Bank for Reconstruction and Development (EBRD) concerning the Bank’s cooperation and activities in this country.

The Agreement will allow the EBRD to proceed with its plan to open a technology centre in Bulgaria, while also establishing deeper links within the local technology community, including partnerships with universities, the creation of a graduate programme, and joining local industry associations, according to the report of the Budget and Finance Committee in the National Assembly.

According to EBRD information, the technology centre will focus on strategic and emerging technologies, including big data, artificial intelligence, cybersecurity, and cloud technologies. The EBRD plans to hire more than 100 employees within 18 months of the signing of the Agreement, and it has ambitions to further expand the technology centre and hire additional staff after that period. This is expected to contribute positively to the development of Bulgaria’s technology ecosystem and increase the country’s visibility among EBRD staff, shareholders, and clients.

Given the Bank’s intention to expand its activities in Bulgaria and to establish a new office with a significant number of new employees, the agreement will support the practical implementation of staffing, management, and follow-up actions related to the deployment of the technology centre’s team. As a result, Bulgaria will become one of the locations with the highest number of EBRD employees in a country that receives financing from the Bank.