site.btaBulgarian Development Bank Joins EU’s EastInvest Facility

The Bulgarian Development Bank (BDB) has joined the EastInvest Facility, the new EU initiative to provide easier access to lending support to Member States bordering Russia, Belarus and Ukraine. The platform is aimed to help these Member States overcome the economic and infrastructural challenges arising from the war in Ukraine and accelerate their economic resilience and integration into the Union’s internal market, the BDB press office said on Friday.

The initiative was announced on Thursday by European Commission President Ursula von der Leyen at an event in Brussels. BDB Supervisory Board Chair Delyana Ivanova and Chief Executive Officer Tsanko Arabadzhiev were at the event.

The initiative will support Bulgaria, Finland, Estonia, Latvia, Lithuania, Poland, Slovakia, Hungary and Romania, and will be implemented in cooperation with the European Investment Bank, the European Bank for Reconstruction and Development, the Nordic Investment Bank, the Council of Europe Development Bank and national promotional development banks from the participating countries.

Under the EastInvest initiative, the mobilization of up to EUR 28 billion in public and private investment across the nine countries is envisaged. The funds will be directed to key sectors such as transport and energy connectivity, green and digital transformation, strategic infrastructure, supply chain security and support for small and medium-sized enterprises.

Regional Development and Public Works Minister Angelina Boneva was also in Brussels on the occasion.