site.btaFinance Ministry Signs MoU with European Bank for Reconstruction and Development

The Bulgarian Finance Ministry Monday signed a memorandum of understanding (MoU) with the European Bank for Reconstruction and Development (EBRD), the Government Information Service said. The document was signed by Finance Minister Assen Vassilev and EBRD President Odile Renaud-Basso in the presence of Prime Minister Kiril Petkov. 

Under the MoU, the international financial institution will support the Government in conducting structural reforms and in implementing projects financed with European Union funds in the 2021-2027 programming period. The EBRD will also provide support for projects in the energy sector included in the National Recovery and Resilience Plan, which amounts to EUR 6.3 billion of EU financial support for investments and reforms in key areas, such as healthcare, education, transport connectivity, energy, digitization, and business environment. 

During the signing, Prime Minister Petkov said that Bulgaria has a very good working Recovery and Resilience Plan through which a series of reforms will be funded. The experience of the EBRD experts will be of exceptional benefit to the Bulgarian Government in improving  the projects' quality.

Thus far, the EBRD has directed over EUR 4.3 billion to 277 projects in Bulgaria. In 2021, EBRD investments in this country exceeded EUR 245 million.