03.07.2015

Minister of Finance Vladislav Goranov had a working meeting with Rolf Wenzel, Governor of the Council of Europe Development Bank (CEB). During the meeting the Finance Minister declared readiness the cooperation between CEB and Bulgaria to be strengthened and expressed his conviction that the high level of supply on the financial instruments market should offer flexibility of the funding options.

"We highly appreciate CEB's support for the implementation of the government priorities in the area of energy efficiency", Vladislav Goranov expressed gratitude to Bank's representatives for the approved loan of EUR 150 million to the Bulgarian Development Bank for partial funding of the National Programme for Energy Efficiency of Multi-Family Residential Buildings. The participants in the meeting also discussed the new instrument introduced by CEB and intended to support EU Member States to absorb funds under the operational programmes by means of providing bridge financing and/ or partial or full coverage of the national contribution to the EU funded operational programmes.

The Council of Europe Development Bank is the oldest international financial institution in Europe. It is based on a Partial Agreement among the Council of Europe member states in line with the Articles of Agreement signed by eight member states on 16 April 1956. CEB started its activity in Bulgaria in 1996 and in the past almost twenty years of operations in the country the Bank has provided loans in the amount of approximately EUR 300 million for socially targeted projects in the areas of environmental protection, healthcare, integration of Romas by means of building social dwellings and public infrastructure.