site.btaParliamentary Committee Greenlights Increase of Bulgaria's Capital in World Bank, IFC

The parliamentary Budget and Finance Committee Tuesday approved a draft decision that will allow Bulgaria to participate in a capital increase of the World Bank and the International Finance Corporation (IFC). The draft decision was moved by the government.

The World Bank and IFC adopted the capital increase decisions in 2018 and 2020, respectively. The first allows Bulgaria to subscribe additional shares worth USD 17.9 million and the second shares worth USD 19.05 million.

The funding for the subscription of the additional shares has been provided by the 2022 National Budget Act.