23.01.2012

At a meeting between Deputy Minister of Finance Boryana Pencheva and EBRD Vice President Jan Fischer it has become clear that municipal infrastructure, energy efficiency and enhancing the export potential of SMEs remain in the focus of EBRD's cooperation with Bulgaria.  

Future cooperation with EBRD will be focused on fostering economic growth Deputy Minister Pencheva said. It is expected that the EBRD will invest mainly in the private sector, and projects of the real economy creating more value added and based on knowledge and innovation will be a priority.

During the discussions Jan Fischer emphasized that the EBRD highly appreciated Bulgaria's financial stability and good macroeconomic indicators. It is expected that in the middle of February the EBRD Board of Directors will consider a draft of a financial facility for energy efficiency of the Bulgarian industry. Through this facility credit lines to the amount of EUR 150 million will be established.

The Ministry of Finance reminds that the EBRD is one of the leading investors in the Bulgarian economy. Since the beginning of the Bank's operations in Bulgaria until 31 December 2011 its investments in the country have amounted to EUR 2,450 billion. In the past years the EBRD has credited projects in the energy and energy efficiency sectors, municipal infrastructure (the water sector in particular), public transport and SMEs.