Text size

Bulgaria terminates its membership in two international banks

published on 1/24/23 4:52 PM

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!

Radio Bulgaria News bank IBEC IIB International Bank for Economic Cooperation International Investment Bank Russia Russian Federation sanctions

More from category

The new week starts with rain and snow

On Monday, the weather will continue cloudy in most parts of the country with rain, more significant in the southeastern regions. Light snow will fall in the Pre-Balkans. Precipitation will stop from the southwest and clouds will break. There will be..

published on 12/1/24 5:20 PM

The annual effect of Bulgaria's accession to Schengen by land will amount to BGN 1.63 billion

The financial effect of our country's accession to Schengen by land will amount to BGN 1.63 billion (EUR 833.4 million) per year, according to a study by the Economic Research Institute at the Bulgarian Academy of Sciences. The greatest benefit..

published on 12/1/24 4:56 PM

The Ministry of Transport supports the idea of naming Sofia Airport after Vasil Levski

The Ministry of Transport and Communications supports the idea of naming Sofia Airport after Vasil Levski– the most undisputed figure in Bulgarian history. "I would like to thank the academic community, especially Academician Julian Revalski..

published on 12/1/24 12:53 PM