January 16 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said that it has adopted a new strategy for Bulgaria which will guide the bank’s investment and policy engagement in the country during the next five years.
"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," Anca Ioana Ionescu, EBRD Director, head of Bulgaria, said in a statement on Wednesday.
In the 2020-2025 period, the EBRD will focus on helping Bulgarian companies to improve their governance, enhance value chains, embrace the knowledge economy and adapt to demographic challenges. The lender will also look to support the strengthening of the resilience of financial intermediation.
In addition, the EBRD will finance infrastructure projects that enhance regional connectivity, provide green solutions to urban challenges for municipalities, and promote decarbonisation and resource efficiency.
"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," Ionescu added.
To date, the EBRD has invested almost 4 billion euro ($4.5 million) in the Bulgarian economy.
($ = 0.8961 euro)