EIB Group President Highlights Strengthened Partnership with Bulgaria to Drive Growth, Jobs, and Green Transition
(IN BRIEF) EIB Group President Nadia Calviño visited Bulgaria to discuss increased financing opportunities aimed at boosting economic growth, job creation, and the country’s green transition. In partnership with Bulgarian Deputy Prime Minister Lyudmila Petkova, the EIB Group plans to continue supporting key sectors like clean transportation, energy efficiency, and SMEs. Over the past 30 years, the EIB has invested €10 billion in Bulgaria. A €1 billion structural program loan has been approved for 2021-2027 to co-finance EU-backed projects. Notable initiatives include the Sofia Metro, a major climate-action investment. The EIB’s ongoing support will help Bulgaria meet its green and digitalization goals.
(PRESS RELEASE) LUXEMBOURG, 21-Nov-2024 — /EuropaWire/ — European Investment Bank (EIB) Group President Nadia Calviño visited Bulgaria to explore expanded financing opportunities aimed at fostering job creation, economic growth, and the country’s green transition. As part of her EU-wide tour, President Calviño engaged in discussions with Bulgarian Deputy Prime Minister and Finance Minister Lyudmila Petkova, focusing on the EIB Group’s financial and advisory support for Bulgaria and strategies to maximize its impact.
Over the past three decades, the EIB Group has invested approximately €10 billion in Bulgaria, spanning sectors such as clean transportation, energy efficiency, urban development, healthcare, agriculture, and small and medium-sized enterprises (SMEs). These investments, alongside advisory services, have played a critical role in helping Bulgaria absorb EU grants and accelerate its alignment with advanced EU economies.
President Calviño emphasized the EIB Group’s ongoing commitment to Bulgaria, stating, “Our advisory and financial support is driving progress in infrastructure, growth, and job creation. Bulgarian households, entrepreneurs, and innovators can count on our continued partnership to achieve their ambitions.”
The EIB Group will prioritize long-term financing and advisory services in areas such as climate action, energy independence, digital transformation, and equity funding for innovative businesses. A €1 billion structural program loan has been approved to co-finance EU-backed projects in the 2021-2027 programming period, with the first agreement expected by year-end.
Deputy Prime Minister Petkova expressed gratitude for the EIB’s steadfast support, noting, “Significant investments are needed to implement reforms for the green transition, circular economy, and digitalization. The EIB’s tailored financial solutions and advisory expertise will be essential in achieving these goals.”
Among the standout projects is the Sofia Metro, which benefits over 400,000 daily commuters. Supported by €460 million in EIB funding, it represents the bank’s largest climate-action investment in Bulgaria. The EIB also continues to strengthen Bulgaria’s SME sector through partnerships with local banks, offering affordable loans to facilitate green and digital transformations.
This visit underscores the EIB Group’s commitment to working closely with Bulgaria to drive sustainable growth, improve resilience, and achieve a net-zero future.
The ElB Group is the long-term lending institution of the European Union, owned by the Member States. It finances sound investments that further EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.
The EIB Group, consisting of the EIB and the European Investment Fund (EIF), reported total financing signatures in Bulgaria of €1.11 billion last year, more than doubling the commitment volumes from the year before.
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Publish date : 2024-11-21 06:18:00
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