Bulgaria to support EIB capital increase

Being a member of the Board of Governors of the European Investment Bank, this country’s finance minister was appointed by the government to vote for increasing the fully paid-in capital of the Bank by € 10 billion. 

This additional resource will be aimed at investments in growth and employment – innovations, production capacities, small and medium-sized companies. Thus a significant additional own resource of the EIB will be provided for credit operations in all member-states over the next 3-4 years.

Bulgaria has to pay € 17.652 mln. and the money will be divided in three installments with the purpose of an optimal relief of the budget burden. 50% of the sum will be paid till 31 March 2013, and the other 50% will be paid in two equal parts in 2014 and 2015. 

Adapted from Bulgarian National Radio