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EBRD adopts new strategy for Bulgaria
The EBRD has adopted a new strategy for Bulgaria in which the Bank reaffirms its commitment to the country and sets out its priorities for the next three years.
In the coming period, the EBRD will focus on the private enterprise sector, local and national infrastructure, and the energy sector in order to support the supply side of the economy targeting investments in production for local and export markets, job creation and the economy’s competitiveness. The strategy will also assist Bulgaria in maximising the benefits of EU membership.
The EBRD will provide more support to local private companies in order to increase their competitiveness, export potential and support their regional expansion. In doing so, the Bank is prepared to assume increased risks, by providing equity capital to support the restructuring and expansion of local companies on the Bulgarian market and promote cross-border investments in the region. The Bank will pay particular attention to the development of businesses in the less advanced regions of Bulgaria by investing in their modernization, creating jobs and stimulating further growth of the Bulgarian economy.
With a view to enhancing regional cooperation and improving trade links across the region, the Bank will provide support for improvements to Bulgarian transport infrastructure. The EBRD will seek to mobilise greater private sector capital into government-supported public-private partnerships in both national and local infrastructure projects and will provide support to municipalities with the aim of assisting them in the utilization of EU structural and cohesion funds.
To help enhance Bulgaria’s energy security and its position as a regional energy hub, the Bank will continue to support the energy sector by investing with both the private and public sectors in energy generation, enhanced transmission and regional integration and interconnectivity. The EBRD will continue to promote energy efficiency to help Bulgaria reduce its energy intensity, and renewable energy projects as part of EBRD’s Sustainable Energy Initiative.
To date, the Bank has invested more than €1.5 billion in 118 projects in Bulgaria, mobilizing a total funding of €5.9 billion.
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