EBRD launches new strategy for Bulgaria

• Focus on competitiveness, infrastructure and financial sector
• Bank to help address labour and skills mismatch
• EBRD investment in Bulgaria to date stands at €4 billion

The EBRD’s Board of Directors has approved a new strategy for Bulgaria today which will guide the Bank’s investment and policy engagement in the country during the next five years.

The Bank is a major investor in Bulgaria and combines this with support for reforms that help improve the business environment in the country and mobilise investment from other sources. To date, the EBRD has invested almost €4 billion in the Bulgarian economy.

In the period from 2020 to 2025, the EBRD will:

·         support the competitiveness of Bulgarian companies by helping to improve their governance, enhance value chains, promote the knowledge economy and assist in adaptation to demographic challenges

·         finance infrastructure projects that enhance regional connectivity, provide green solutions to urban challenges for municipalities, promote decarbonisation and resource efficiency, and

·         strengthen the resilience of financial intermediation.

Anca Ioana Ionescu, EBRD Director, Head of Bulgaria, said: “Our engagement in Bulgaria will focus on three major themes for the country’s economy that are also priorities for the government: making local firms more competitive at home and abroad, financing modern, sustainable infrastructure and developing financial products and capital markets, given the country’s plans to adopt the euro. Through its investment and policy engagement, the Bank will also help Bulgaria address labour and skills shortages, which are threatening the country’s growth prospects.”

Ms Ionescu took on the role in Sofia on 16 December 2019