Bulgaria’s Deputy Prime Minister in working visit to EBRD

By Olga Rosca

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EBRD President Chakrabarti meets Bulgaria’s Deputy Prime Minister Kuneva

Meetings focus on the country’s reform agenda

Underlining her country’s commitment to reforms that can attract investment, Bulgaria’s Deputy Prime Minister Meglena Kuneva has paid a working visit to the European Bank for Reconstruction and Development (EBRD) today.

At the Bank’s Headquarters in London she met EBRD President Sir Suma Chakrabarti. Both sides underlined their commitment to strengthening the successful cooperation between the EBRD and Bulgaria and to accelerating efforts to improve the investment climate in the country.

Sir Suma welcomed Bulgaria’s efforts to fight corruption and reform the judicial system. He said: “Investors need a fair and predictable legal environment where businesses can prosper for the benefit of the economy and the people. Further reforms will unlock new domestic and foreign investment for Bulgaria, including by the EBRD.”

Deputy Prime Minister Kuneva added: “The Bulgarian government is committed to reforms in the judicial system, in anticorruption policies, education, e-government and overall administration. All these are essential for the improvement of the business environment. We are very much looking forward to continuing our cooperation with the EBRD through its Investment Climate and Governance Initiative.”

The EBRD is one of the largest institutional investors in Bulgaria. To date, the Bank has invested over €3 billion in more than 200 projects in the country. The EBRD’s activities focus on enhancing competitiveness through improved efficiency, governance and innovation; strengthening financial sector intermediation through investments and improved governance; and narrowing the infrastructure gap through commercialisation, reform and efficiency.

The EBRD’s operations in the country are headed by Larisa Manastirli, who took up the Sofia-based position as Director for Bulgaria in December 2015 and also attended today’s meetings. She added: “Bulgaria, like the rest of the region, is facing serious challenges. At the same time the country is making progress which often does not get the attention it deserves. The EBRD has been working very hard to support Bulgarian businesses and we shall continue to do so.”

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