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

Salaries in Sofia are comparable to those in other European cities, expert says

The standard of living in Sofia and some larger cities in Bulgaria is high. However, more attention should be paid to the regions of the country that are significantly lagging behind in terms of income, economist Georgi Vuldzhev has..

published on 7/22/24 4:34 PM
Atanas Zapryanov

Bulgaria is ready with new military aid package for Ukraine (UPDATED)

The formation of the next aid package for Ukraine is at the final stage and it can be submitted to the Council of Ministers today, said caretaker Minister of Defense Atanas Zapryanov, who participated in a conference on the occasion..

published on 7/22/24 3:32 PM
Kristian Vigenin

If BSP receives the third mandate, it will try to form expert cabinet (UPDATED)

The return of the second mandate was not unexpected, deputy chairman of the BSP Kristian Vigenin said. According to him, forming a government within the framework of the 50th parliament is increasingly difficult to achieve...

published on 7/22/24 2:28 PM