Deputy Prime Minister and Minister of Economy, Investments and Industry Alexander Pulev held a meeting with representatives of the European Bank for Reconstruction and Development (EBRD). The main focus of the conversation was on deepening the partnership to support the country's modernization, the Ministry announced.
Discussions covered the potential for more active use of public-private partnerships, the preparation of strategic infrastructure projects, the utilization of European and international financial instruments, attracting investments, and applying the EBRD's best international practices and expertise. Key areas for cooperation were explored, including:
- preparation of large-scale infrastructure projects;
- public-private partnerships;
- effective implementation of international and European financial mechanisms;
- intensifying efforts to attract investment interest;
- implementing proven global models and specialized expertise provided by the EBRD.
"We have a clear goal: more investments, modern infrastructure, and more active participation from the private sector. The EBRD is a natural strategic partner for Bulgaria in this process, and we want to turn this dialogue into concrete projects and tangible results," stated Alexander Pulev.
During the discussion, the Minister presented the cabinet's main priorities in the economic sphere, placing the attraction of capital at the forefront. He argued for the necessity of transforming the economy, describing the current model as unviable because it is built on consumption driven by lending. In this regard, Pulev noted: "Our focus is on high value-added production and strategic partnerships with established companies in priority areas, because the current economic model is exhausted. It relies heavily on consumption financed by debt, and that is not a sustainable model. Therefore, we must restructure the economy and begin an economic transformation. This takes time, but we must lay the necessary foundation and take the required administrative steps."
Optimizing the business climate and administrative services was highlighted as the next priority. Pulev emphasized the drive for better operational coordination and reducing regulatory burdens. To achieve these goals, a central coordinating unit has been introduced to act as a link between institutions and investors, facilitating communication with international financial structures.
The third pillar of the ministry's strategy is public-private partnerships (PPPs). Pulev revealed that a new bill on the subject is being prepared, inspired by European experience, which aims to stimulate private financing in public infrastructure. "Public-private partnerships are one of the key tools with which we can mobilize private capital and accelerate the modernization of infrastructure in Bulgaria," Pulev stated.
According to him, the new legislative framework will find application in various fields – from energy facilities and logistics zones to transport links. "These are projects that require significant resources and a long-term vision. This is precisely where public-private partnerships can provide the necessary toolkit," the Deputy Prime Minister added.
Furthermore, he noted that the bank will provide expert support in the design of these initiatives. Pulev emphasized that the cooperation with the EBRD has the capacity to go beyond standard lending: "I believe our partnership can bring concrete improvements in the management, preparation, and implementation of strategic investment projects. We want to implement the best international policies and standards and do even more for the modernization of Bulgaria."
At the end of the meeting, the Minister recalled that as early as the second half of June, he had recognized the EBRD as the "gold standard" in the development banking sector. He recalled his joint appearance with EBRD Vice President Matteo Patrone at the opening of the financial institution's new TechSofia center, confirming the long-standing friendly and institutional ties between our country and the financial institution.