site.btaBulgarian Development Bank Earmarks BGN 3.4 Bln for Municipalities

The Bulgarian Development Bank (BDB) said Friday that it will support municipalities with a total resource of BGN 3.4 billion in connection with the implementation of the investment programme for municipal projects and the national programme for energy efficiency of multi-family residential buildings.

The implementation of the programmes and the opportunities for businesses were discussed at the regular meeting of the Advisory Council to the BDB Supervisory Board with the participation of Minister of Regional Development and Public Works Ivan Ivanov. The Advisory Council comprises representatives of the national employers' organizations, the two trade unions, and the National Association of Municipalities in Bulgaria.

Minister Ivanov pointed out that the government is launching a long-awaited investment programme for the municipalities in the amount of BGN 1.650 billion. Of this amount, BGN 750 million are provided by the state budget for the payment of both started and unpaid municipal projects and those starting this year. In addition to the resources, the BDB is providing another BGN 900 million for the implementation of the investment programme.

"The Bulgarian Development Bank has a key role as a long-standing partner of the Ministry of Regional Development and Public Works in both stages of the national energy efficiency programme. In the implementation of the investment projects, the guiding principle will be the equality of municipalities, without party discrimination," said Regional Minister Ivan Ivanov.

Deputy Chair of the BDB Supervisory Board Delyana Ivanova stressed that the bank is fulfilling one of its key roles in supporting the state in implementing public policies. "BDB will support the construction of education, water supply, health, and road infrastructure," Ivanova noted. 

"BDB will oversee regular and timely payments to all contractors, ensuring good business turnover and supporting economic development. Through the BDB Advisory Council, we will maintain an active dialogue with all stakeholders - businesses, local government, trade unions, and government institutions - to ensure programme payments to municipalities and businesses," BDB Supervisory Board Chair Rosen Karadimov.