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

MEP Nikola Minchev

EP decides whether to lift the immunity of Nikola Minchev and four other MEPs

The European Parliament has launched a procedure at the request of the  Belgian  authorities of to lift the immunity of five MEPs, including former Bulgarian National Assembly Speaker Nikola Minchev from the “Renew Europe” group, BTA..

published on 5/22/25 9:49 AM

Bulgaria and 15 other EU countries: Third countries should support the European initiative to end the war in Ukraine

Bulgaria and 15 other EU countries sent a letter to Kaja Kallas, EU High Representative for Foreign Affairs and Security Policy, calling on her to initiate joint diplomatic efforts aimed at securing global support for a ceasefire in Ukraine, the..

published on 5/22/25 9:00 AM

Expect more sunshine, rain, and unsettled weather

On Thursday, lows will be between 9 and 13°C, reaching 9°C in Sofia. It will be mostly sunny during the day, but the atmosphere will be unstable with the development of cumuliform clouds around noon. Rain is expected, and thunderstorms and hail are also..

published on 5/21/25 7:05 PM