The EBRD in Bulgaria

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The EBRD has been investing in Bulgaria since 1991

In Bulgaria, we focus on making local firms more competitive at home and abroad, financing modern, sustainable infrastructure, and developing financial products and capital markets, in light of the country’s plans to adopt the euro.

A Bulgarian success story: how EBRD investment is helping the Kozloduy nuclear power plant in Bulgaria to decommission radioactive waste.

311

Number of projects to date

€4,838m

Cumulative EBRD investment

€4,541m

Cumulative disbursements and issued guarantees

98%

Private sector share of portfolio

Number of active portfolio operations

€779m

Current portfolio of projects

€434m

Operating assets

31%

Equity share of portfolio

28 March 1991

Joined the EBRD

237,110

Capital subscription (€000)

EBRD Governor: Temenuzhka Petkova
EBRD Alternate Governor: Radoslav Milenkov
EBRD Board Director, Poland: Piotr Szpunar
EBRD Board Alternate Director: Karina Karaivanova

EBRD Shareholders information

Focus areas

Accelerating Bulgaria’s green economic transition

Bulgaria is Europe’s most carbon-intensive economy, and the EBRD is working with the authorities, banks and companies to accelerate the green economic transition through investments in sectors such as renewables, grids, battery storage systems, decarbonisation of industry and hard to abate sectors and energy efficiency.

Enhancing competitiveness

The EBRD is helping to boost the competitiveness of Bulgarian companies by deepening financial intermediation, enhancing value chains, and promoting innovation.

Increasing economic resilience

The EBRD’s financing will aim to strengthen the resilience of financial institutions through a variety of financial instruments, to channel financing to underserved segments in the economy, to support critical raw materials and re-use of resources, food and energy security as well as to promote regional integration and infrastructure development.

2.8%

EBRD forecast for Bulgaria’s real GDP growth in 2025

2.6%

EBRD forecast for Bulgaria's real GDP growth in 2026

Economic growth accelerated in 2024 to 2.8 per cent, driven by a rebound of private consumption. Real wage growth averaged 13 per cent year on year, which supported consumption alongside an acceleration of loans to households, which expanded at the rate of 19 per cent.

On the downside, investment contracted in real terms in 2024, although output in the construction sector remained resilient. Weak foreign demand translated into a further decline of industrial output and exports. Inflation declined to 2 per cent by the end of 2024 but has risen to 4 per cent by March 2025. Bulgaria’s direct exposure to the US economy is limited, and the indirect impact on the manufacturing sector remains uncertain. Stronger growth in late 2024 created a strong carry-over effect, which is partly offset by the potential negative impact of higher US import tariffs. On balance, the 2025 real GDP growth forecast is revised up to 2.8 per cent. Real GDP growth is expected to moderate to 2.6 per cent in 2026.

Bulgaria strategy and snapshot

Bulgaria strategy

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Bulgaria strategy (Bulgarian)

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Report on public comments

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Bulgaria country snapshot

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Contact the EBRD in Bulgaria

Head of Office: Manuela Naessl

Address:

EBRD Sofia Resident Office, 17 Moskovska Street, 1000 Sofia, Bulgaria

Telephone:

+359 2 9321 414

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The EBRD in Bulgaria

A Bulgarian success story: how EBRD investment is helping the Kozloduy nuclear power plant in Bulgaria to decommission radioactive waste.

Focus areas

Accelerating Bulgaria’s green economic transition

Enhancing competitiveness

Increasing economic resilience

Bulgaria strategy and snapshot

Contact the EBRD in Bulgaria

The EBRD in Bulgaria

A Bulgarian success story: how EBRD investment is helping the Kozloduy nuclear power plant in Bulgaria to decommission radioactive waste.

Focus areas

Accelerating Bulgaria’s green economic transition

Enhancing competitiveness

Increasing economic resilience

Renalfa IPP closes €315 million Holdco Financing with a club of banks led by EBRD

EBRD launches InvestEU programme in Bulgaria’s financial sector to boost sustainable investment

EBRD signs a portfolio guarantee for ProCredit Bulgaria to unlock €50 million of green finance

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