The Bulgarian Development Bank has a new strategy and is preparing various programs to enter more directly into public policy and to help overcome regional imbalances in the country, said today in Albena the Acting Minister of Innovation and Growth Rosen Karadimov to the participants of the Annual Meeting of Local authorities, organized by the National Association of Municipalities. According to him, the aim is to strengthen the institution’s role as a true development bank by financing public objects, BTA points out. Karadimov specified that the programs are currently being developed and in 2025 the bank will become a real partner of the Bulgarian municipalities, especially for things for which the state cannot or has no right to allocate resources.
Karadimov also pointed out that local authorities should be very active in attracting investors. He emphasized that the state finances projects to build infrastructure leading to future business sites. Attracting entrepreneurs should go along several lines, added the minister. According to him, it is necessary for the Investment Agency to develop further, but it is mandatory to have adequate information from the municipalities.
Karadimov also said that the ministry is opening new measures under the European programs with a total budget of BGN 5 billion. One of them is under the “Science and Business” program with a budget of BGN 25 million. Under the “Competitiveness” program, several procedures are opened with a budget of about BGN 102 million. There will be a special focus on small and medium-sized enterprises in Northern Bulgaria, said Karadimov and added that some of the measures enable municipalities to participate together with businesses.
The fund of funds will start the realization of the funds for urban development, the minister also said. The total budget that will be allocated under the urban development program is BGN 650 million, which will be absorbed by the end of 2029. The public resource will be provided under two of the European programs. The Fund of Funds has already announced a public tender for the three funds, Karadimov said. According to him, in addition to the debt and financial instruments known so far, this time also grant-in-aid will be admissible.
From the point of view of the municipalities, the implementation of the “Regional Development” program through the Fund of Funds is key, because it is aimed at 50 large and small cities, the minister also said. He explained that investments in infrastructure for business, including business parks, for sustainable urban mobility, for green urban, cultural and educational infrastructure, for energy efficiency of residential and public buildings are allowed in this direction. Karadimov added that he hopes to start structuring the new financial instruments, including those for grants, by the end of this year.