Podcast in English
Text size
Bulgarian National Radio © 2024 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

Rain in eastern and central Bulgaria

On Friday morning, clouds will break and decrease over the eastern half of the country, but will close again in the afternoon, bringing rain and thunderstorms in places. Lows will be between 16 and 22°C, 16°C in Sofia. Highs will be between 27 and 32°C,..

published on 7/25/24 7:05 PM

Bulgarian scientists warn of rapid warming of the Black Sea

The Black Sea is one of the fastest warming seas in the world . By the end of the century, wind speeds in the region are expected to increase, rainfall is expected to increase and air pressure is expected to rise. The regions of Varna, Dobrich and..

published on 7/25/24 6:10 PM

Bulgaria will cooperate with Australia, Romania, Croatia and Serbia in the field of cultural heritage

Bulgaria's Minister of Culture Nayden Todorov has signed two important international documents, thanks to which Bulgaria will cooperate with Australia, as well as with Romania, Croatia and Serbia in the field of studying, preserving and promoting..

published on 7/25/24 5:46 PM