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 Government approved the withdrawal of EUR 1.4 billion in unused capital, with the funds slated to return to the State budget. When questioned about the timing of this decision, Klisurski stated that the caretaker Cabinet preferred to announce the measure after the elections to prevent it from becoming a “political football.” He emphasized that the caretaker Government remains valid until the new elections and that the State is the sole owner of the BDB’s capital, giving it the authority to manage it.
Klisurski outlined a two-step process for the capital reduction: the cabinet decision, followed by mandatory approvals from the Bulgarian National Bank (BNB) and the European Central Bank (ECB). He expressed confidence that both institutions would confirm the BDB’s capital adequacy following the reduction. Addressing disbursement concerns for the municipal program, the minister assured reporters that the BDB has sufficient funds.
He noted that despite the EUR 460 million approved for the program, the bank possesses capital reserves exceeding the required amount. Furthermore, Klisurski confirmed that the future Government will be responsible for drafting the regular budget, as the caretaker period is nearing its conclusion.
Topics: #caretaker #minister #cabinet
