"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 bank said in a statement posted on its website on Wednesday.
The strategy will also assist Bulgaria in maximising the benefits of EU membership, the statement added. The Black Sea country of 7.6 million joined EU in 2007.
EBRD will provide more support to local private companies in order to increase their competitiveness, export potential and support their regional expansion.
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. It will pay particular attention to the development of businesses in the less advanced regions of Bulgaria by investing in their modernisation, creating jobs and encouraging economic growth.
EBRD will provide support for improvements to Bulgarian transport infrastructure to enhance regional cooperation and improve trade links across the region. The bank said it 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.
EBRD 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 aiming to enhance energy security and its position as a regional energy hub. The bank 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.
EBRD has invested more than 1.5 billion euro ($2.3 billion) in 118 projects in Bulgaria, mobilising a total funding of 5.9 billion euro.
