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. Klisurski explained that the caretaker Cabinet decided to reduce the BDB’s capital by EUR 1.4 billion, with the funds returning to the State budget. He stated that the timing of the decision was strategic, asserting that announcing it before the elections would have made the matter a “political football.” He confirmed that the government’s actions remain valid while it is in office.
Regarding the BDB’s finances, Klisurski emphasized that the State is the sole owner and has the authority to adjust the bank’s capital. While the Cabinet’s decision was the initial step, he noted that subsequent approvals from the Bulgarian National Bank and the European Central Bank are mandatory. He expressed confidence that both institutions will validate the BDB’s capital adequacy following the reduction.
Addressing concerns about the disbursement of EUR 80 million under the Municipal Investment Programme, the minister provided assurances of sufficient funds. He calculated that the BDB possesses EUR 140 million in surplus capital relative to the EUR 460 million allocated for the program’s extension budget. Furthermore, he detailed the bank’s capital position, noting that despite the reduction, the BDB’s current capital level remains significantly higher than that of the previous year.
Klisurski concluded by stating that the preparation of the draft budget for future funding falls to the next government, noting that the caretaker government has a limited operational period remaining.
Topics: #caretaker #minister #cabinet
