Caretaker Finance Minister Georgi Klisurski addressed questions regarding the Bulgarian Development Bank (BDB) and the Investment Programme for Municipal Projects during a joint press conference with caretaker Regional Development Minister Nikolay Naydenov. Regarding the BDB, the government approved the withdrawal of EUR 1.4 billion in unused capital, with the funds slated to return to the State budget. The decision was made during the weekly Council of Ministers meeting on Wednesday.
When asked about the timing, Minister Klisurski stated that the caretaker Cabinet timed the decision to ensure it would not become a “political football” before the elections. He affirmed that the caretaker Government’s actions remain valid. Klisurski emphasized that the State is the sole capital owner and has the authority to adjust the bank’s capital.
He noted that the next steps require approval from the Bulgarian National Bank and the European Central Bank. Concerning the Municipal Investment Programme, Klisurski expressed confidence in the BDB’s ability to disburse allocated funds. He detailed that the bank received a EUR 600 million capital injection in January, against a EUR 460 million disbursement requirement under the program extension budget.
This leaves the BDB with a surplus of EUR 140 million beyond the approved municipal funds. The minister also provided figures comparing the current capital structure to the previous year, noting the bank retains significantly more capital. Klisurski concluded by stating that the future Government will prepare the draft budget, as the caretaker period is nearing its end.
Topics: #caretaker #minister #cabinet
Caretaker Finance Minister Georgi Klisurski stated that the government delayed reducing the Bulgarian Development Bank’s (BDB) capital until after the elections to prevent the matter from becoming a p