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

Greece approves extradition of a Bulgarian to USA over charges of smuggling banned products to Russia

Greece will extradite to the USA a Bulgarian arrested on charges of creating and participating in a criminal group for smuggling. The Greek Supreme Court has confirmed the extradition of the Bulgarian citizen who was detained in..

published on 7/25/24 11:46 AM

No agreement in parliament whether MPs should work in August

There is no agreement among the parliamentary groups on whether the National Assembly should work throughout the month of August or go on vacation. This became clear after the council on Thursday. Only "There is Such a People" (ITN)..

published on 7/25/24 10:42 AM

Bulgaria hosts conference on climate risks in the Black Sea region

The Bulgarian Academy of Sciences and the Municipality of Sofia are hosting a scientific conference on "Climate Risks in the Black Sea Region", which is held on July 25 and 27. Internationally recognized scientists from Bulgaria and..

published on 7/25/24 8:05 AM