BDB Executives met with the Bulgarian President to discuss the hosting of the Three Seas Initiative
19 February 2021Bulgarian President Rumen Radev met with the Executive Officers of the Bulgarian Development Bank Nikolay Dimitrov and Panayot Filipov to discuss Bulgaria’s hosting of the Three Seas Initiative to improve regional transport, energy and digital connectivity. At the end of last year, BDB joined the Initiative Investment Fund as a Class A shareholder with a commitment of EUR 20 million.
By the end of January, the Bank is expected to have an established representation in the Management Board and the Supervisory Board of the Investment Fund, which will contribute to the integral participation of Bulgaria.
"The real opportunities of the Investment Fund will depend on the inclusion of the still hesitant parties in the Initiative, as well as on international financial institutions and on representatives of the private sector," the Head of State explained. It is particularly important to inform the public about the criteria for determining the winning projects, as well as the mechanisms for granting funding
Bulgaria expects the Three Seas to turn into a real tool for social and economic cohesion in Europe in order to compensate for the differences in the development of the different regions in the EU.