Tsanko Arabadzhiev: Over BGN 2.5 billion will go to Bulgarian business with guarantees from the BBR

"Years ago, it seemed difficult to achieve, but today we can manage European funds", said the executive director of the Bulgarian Development Bank during his participation in the "Green Transition Forum 4.0"

Over BGN 2.5 billion will go to the Bulgarian business with guarantees from the BBR. This was said by Tsanko Arabadzhiev, Executive Director, Bulgarian Development Bank, from the rostrum of the most successful forum for green transition - "Green Transition Forum 4.0 - New perspectives for Central and Eastern Europe", organized for the fourth year in a row by Dir.bg and 3E News. The three-day conference was held from June 26 to 28 in Sofia's Event Center. During the event, more than 2,500 people, including more than 750 top managers from 18 different countries, held the key conversation about tomorrow's world.

On the first day of the forum, Tsanko Arabadjiev participated in the session "Capital Mobilization for Green Projects". Lyudmila Petkova, Minister of Finance, Iliana Tsanova, Deputy Director General and Chief Risk Expert, General Directorate "Budget", EC, Kyriakos Kakouris, Vice President, EIB, Roger Havenit, Deputy CEO, EIF also appeared on the conference stage with him. .

Tsanko Arabadjiev was presented as one of the connoisseurs of green finance with considerable experience in the banking sector. At the beginning of his speech, he thanked that, for the third time in a row, he had the pleasure and honor to participate in the Green transition forum, which, in his words, "every year manages to upgrade both the level of participation in topics, discussions, and the organizational - we are institutionalizing ourselves on the map of Europe in terms of green transformation. I am really proud that such an event is happening in Bulgaria".

Traditionally, in his appearances so far, Tsanko Arabadzhiev talks about the things that the Bulgarian Development Bank (BDB) plans to achieve in the next 12 months and next year he tells what has been done.

"The things that we commented on last year - to finalize the agreement with the European Investment Bank (EIB) to end the technical assistance, so that we can build internal capacity in the Development Bank, these things are already a fact. Literally in maybe 2 weeks we will sign agreement with the European Commission regarding InvestEU. This is an instrument that is being structured by the Bulgarian Development Bank, and in the coming years over BGN 2.5 billion will go to the Bulgarian business with guarantees from the BDB," said Tsanko Arabadzhiev.

And he pointed out that in practice they did exactly what all the participants in the session "Mobilizing capital for green projects" talk about - "good communication, good coordination between different legislators" with national funds, with funds from the commission, with funds from the bank.

"We managed to create this instrument, which with the help of commercial banks will reach businesses. This is a practical guarantee from the Bulgarian Development Bank to small and medium-sized businesses in the country, and this will support financing with reduced collateral requirements. I have repeatedly said, that this is one of the main problems we encounter in the financing of small and medium-sized companies", Tsanko Arabadjiev pointed out.

He drew attention to the fact that BBR has passed a long-term audit and is already certified as a managing partner.

"We can manage European funds. Something that a few years ago seemed quite difficult to achieve. So, the message I would like to make to all of you is that the Development Bank is here to fulfill its main role, to help the transition of small and medium businesses and the economic potential of the country. My appeal to you would be to work together. To those of you who are representatives of institutions, let's continue to discuss the possibilities of creating new financial instruments of business - take advantage of this funding, if you need help, we are there, we have a built-up technical potential. We just all have to do it together so that it reaches the right people and is used in the best way.", said the executive director of the BBR.

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The largest and most significant conference on the Green Deal "Green Transition Forum 4.0: New perspectives for Central and Eastern Europe (CEE)" is organized by Dir.bg and 3E-news. The forum was held from June 26 to 28. Representatives of more than 18 countries appeared on the conference stages in the Sofia Event Center, as a total of 2,500 participants, of which over 750 top managers, held the key conversation about tomorrow's world.

The event is organized by Dir.bg and 3E-news in partnership with ACT Commodities, ProCredit Bank, Visa, European Investment Bank, Elektrohold, Yettel, Artex Engineering AD, UBB, Aurubis Bulgaria, Glavbolgarstroy Holding, Bulgarian Stock Exchange, UniCredit Bulbank, Bulgarian development bank, Geotechmin, Energeo, MET Energy Trading Bulgaria, Dundee Precious Metals, FLAG Fund, ICGB, The Oil and Gas Employers' Federation, Electric Power System Operator, Bulgartransgaz, Fund of Funds, Bulgarian Energy Holding EAD, Kozloduy NPP, Westinghouse, Philip Morris Bulgaria, BMF Port Burgas AD, Information Service, Bulgarian Natural Gas Association, REIB, PCONTRADE, Omega Power Group, PHOTOMATE, OMV Petrom, Bulgarian Recycling Association, TTS (Transport Trade Services) S.A, Morningside Hill, CWP Global , DEVIN, Smart Energy Trade.