site.btaParliament Approves Draft Resolution on Bulgaria's Participation in Increase of Capital of IBRD, IFC

The National Assembly Wednesday adopted a draft resolution giving consent to the participation of Bulgaria in the general and selective capital increases of the International Bank for Reconstruction and Development (IBRD) and the International Finance Corporation (IFC). The motion was submitted by the Council of Ministers.

General and selective capital increases of the IBRD and IFC were approved by decisions of the IBRD and IFC Governing Boards adopted in 2018 and 2020, respectively. Bulgaria has been given the right to subscribe additional 632 shares in the IBRD general capital increase and 369 shares in the selective capital increase, on a par of USD 120,635 per share, and 12,523 shares in the IFC general capital increase and 6,523 shares in the selective capital increase, on a par of USD 1,000 per share. A total of USD 17.9 million of the subscription in the IBRD capital increase are due to be paid in, along with the total amount of USD 19.05 million of the subscription in the IFC capital increase. 

Bulgaria has been a member of the IBRD since 1990, and of the IFC since 1991.