- EBRD President to visit Bulgaria on 17-19 March and Romania on 20-21 March
- Odile Renaud-Basso’s visit comes as EBRD prepares new strategies for both countries
- Meetings planned with senior government officials and businesses
Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD), will travel to Bulgaria and Romania next week to meet senior government officials and businesses, as the Bank prepares new five-year strategies for both countries which will go to public consultation later this year.
EBRD investments in Bulgaria more than doubled last year (to €272 million from €117 million) and were sharply higher in Romania (rising to €707 million from €658 million), with the Bank strongly supporting the green economy transition in both countries. As well as supporting decarbonisation efforts in both countries, the EBRD leader will also discuss joint efforts to deepen capital markets, innovation and growth.
In Bulgaria, President Renaud-Basso will meet leaders including President Rumen Radev, Prime Minister Rosen Jeliazkov (also spelled Zhelyazkov), Minister of Finance and EBRD Governor Temenuzhka Petkova and Energy Minister Zhecho Stankov. She will also have talks with the Governor of Bulgaria’s National Bank, Dimitar Radev, and business leaders, clients and diplomats.
In Romania, she will meet with Prime Minister Marcel Ciolacu, Minister of Finance and EBRD Governor Tanczos Barna and Energy Minister Sebastian Burduja, as well as representatives of businesses, diplomats and civil society representatives.
Ahead of the visit, President Renaud-Basso said: “The EBRD is a key partner and major institutional investor in both Bulgaria and Romania. This visit underscores the EBRD's commitment to fostering economic development. I look forward to deepening our ties and exploring the shape of our future activity to support sustainable growth in both countries.”
Mrs Renaud-Basso will be accompanied in Bulgaria by EBRD Managing Director for Central and South-Eastern Europe Charlotte Ruhe and EBRD Head of Bulgaria Manuela Naessl. On the visit to Romania, she will be accompanied by EBRD Director, Head of Romania, Victoria Zinchuk.
To date, the EBRD has invested more than €4.7 billion in 307 projects in Bulgaria. The focus is on making local firms more competitive at home and abroad, financing modern, sustainable infrastructure and developing financial products and capital markets, given the country’s plans to adopt the euro.
In Romania, the Bank has invested a total of over €11.6 billion in 560 projects. Here, the EBRD focusses on financing green investments in infrastructure, especially in the energy sector; boosting corporate productivity and resilience, including through innovation, greater integration and enhanced workforce skills; and further developing the financial sector and capital markets.