EBRD Wraps Up Visit to Bulgaria, Investments Total EUR 2 B

The European Bank for Reconstruction and Development has invested over EUR 2 B in various sectors of the country's economy since the beginning of its operations in Bulgaria, mobilising additional investment in excess of EUR 5 B.

A delegation of the EBRD Board of Directors is expected to present on Friday the results of its four-day visit to Bulgaria, during which it obtained up-to-date information on developments in one of the bank's countries of operation.

During the visit members of the EBRD delegation met the Bulgarian authorities, including the President Georgi Parvanov, Prime-Minister Boyko Borisov, and members of the Bulgarian government.

The EBRD directors also held meetings with representatives of local NGOs, international financial organisations operating in Bulgaria, as well as representatives of the business and diplomatic communities.

The purpose of the visit was to get an update on Bulgaria's investment priorities and the EBRD's involvement in the context of the forthcoming country strategy.

The discussions between EBRD Board Directors and government representatives were expected to focus on the bank's role in supporting public and private sector investments as well as on Bulgaria's investment climate.

The EBRD has stepped up its activity in the region and is expected to invest close to EUR 500 M in Bulgaria's private sector by the end of 2010.