The new strategy of the Bulgarian Development Bank will turn it into a real encouragement bank

The new strategy of the Bulgarian Development Bank will turn it into a real encouragement bank, caretaker Minister of Innovation and Growth Rosen Karadimov explained on May 15. The Bank will have a qualitatively new function in the public social and economic spheres of the country.

In the new three-year strategy of the Bulgarian Development Bank, it is not only to support small and medium-sized businesses, but also in a wide range of public spheres.

Rosen Karadimov, caretaker Minister of Innovation and Growth: "This project we are discussing is the beginning of the transformation of the Bank as a real encouragement bank, as most of the developed countries have and use such market instruments effectively."

The bank could be a partner in projects in the energy sector, including retrofitting of buildings, electricity price liberalisation, healthcare, social infrastructure, transport, communications and the development of the military-industrial complex.

"The BDB, besides supporting small and medium-sized businesses, which is the function it has so far by law, has two more functions - support of the public policies of the state and overcoming regional imbalances," he said.

A total of seven ministries are involved in the development of the strategy, together with employers' organisations, trade unions and the association of municipalities.