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 caretaker Cabinet approved the withdrawal of EUR 1.4 billion in unused capital, which will be returned to the State budget. Klisurski explained the timing of this decision, stating that the caretaker Cabinet wished to allow the elections to pass before taking action to prevent the matter from becoming a “political football.” He noted that the State is the sole owner of the BDB’s capital and possesses the authority to adjust it.
The minister clarified that the withdrawal decision is the first step, requiring subsequent approval from the Bulgarian National Bank and the European Central Bank. He expressed confidence that both institutions would confirm the BDB’s capital adequacy even after the reduction. On the topic of municipal funds, Klisurski confirmed that the BDB is managing the disbursement of EUR 80 million from the EUR 460 million allocated under the Municipal Investment Programme.
He detailed the bank’s financial standing, noting that after a recent EUR 600 million capital injection, the BDB possesses sufficient capital. Specifically, he stated that the bank has EUR 140 million in surplus capital relative to the total approved amount for the municipal programme. The minister also confirmed that the future Government retains the authority to alter the capital structure of the BDB and other state-owned companies.
The caretaker Government has approximately two weeks remaining to prepare for the next administration.
Topics: #caretaker #minister #cabinet
