Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Bulgaria terminates its membership in two international banks

Bulgarian Parliament building
Photo: Ani Petrova, BNR

The Bulgarian Parliament has decided to terminate Bulgaria's membership in the International Investment Bank (IIB) and the International Bank for Economic Cooperation (IBEC), as the Russian Federation is the largest shareholder in both. 

The Bulgarian Socialist Party and Vazrazhdane party voted against. "This is not an economic, but a purely political decision, and what worries us is what happens to the credit lines for Bulgarian companies," said Rumen Gechev from BSP. 

According to Martin Dimitrov from "Democratic Bulgaria", however, there is no external pressure for the decision, and if the sanctions against the Russian Federation cover these two banking institutions, Bulgaria will be damaged.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Daniel Mitov

Interior minister orders nationwide inspection of dangerous road sections

Against the background of protests in different towns across the country against the “war on the roads”, the poor condition of roads, corruption in public procurement and flawed road repairs, Minister of Interior Daniel Mitov has ordered a..

published on 4/5/25 2:28 PM
Zhecho Stankov (L) and Alparslan Bayraktar

Changes to gas contract between Bulgaria and Türkiye’s BOTAŞ in the offing

Ways to improve the positions of the sides to the contract between Bulgaria’s Bulgargaz, Bulgartransgaz and Türkiye’s BOTAŞ will be discussed until 2 May. Agreement on this was reached in Baku, Azerbaijan, by Bulgaria’s Minister of Energy Zhecho..

published on 4/5/25 1:39 PM
Hundreds came out to protest in memory of Siyana in Pleven last night

Protests against war on the roads after death of a child in serious traffic accident

A wave of outrage is sweeping over Bulgaria after a severe accident on the Telish-Radomirtsi road (Pleven region), in which 12-year old Siyana lost her life as she was returning from a holiday with her grandparents. A protest is scheduled for today..

published on 4/5/25 11:50 AM