Bulgaria
Republic of Bulgaria
  • EU Member
  • Baa2/BBB
    Moody’s/Fitch Ratings
  • GDP Growth (2019) : 3,4%
Priorities
Financing Bulgarian trade with EU countries, IBEC member states and the Balkan countries
Support of local enterprise and innovations
Focus on funding of IT and eco-friendly projects
Statistics
€ 67 872
Credit portfolio (EUR thous.)
€ 0
Documentary portfolio (EUR thous.)
€ 10 572
Securities portfolio (EUR thous.)
4
Number of projects

Strategy

According to the strategy, the main goal of the IBEC's activities in relation to Bulgaria will be to strengthen the competitiveness of the Bulgarian economy through a focused and balanced approach to eliminating bottlenecks in the country's economic development and helping Bulgarian companies to realize their foreign economic potential.
Geographic diversification of foreign trade: support for operations with IBEC member countries, other non-EU countries, countries of the Balkan Peninsula.
Sectoral diversification of foreign trade, assistance to the development of economic sectors in accordance with the priorities of the country's strategic development (information and telecommunications sector, energy, mechanical engineering, electronics, pharmaceuticals, etc.).
Support for the SME sector.
Development of a network of partners in the Bulgarian market (financial institutions, non-profit and government structures, national development institutions).

Interaction of IBEC with state bodies of Bulgaria

OBJECTIVES of the IBEC’s work with state bodies: Bilateral interaction with the target audience — informing it about the work and plans of the IBEC, as well as obtaining and analyzing relevant information from the target audience in accordance with the business profile and initiatives of the Bank, using such information in the Bank’s work to develop its activities, in particular, by implementing new projects in order to fulfill the IBEC mission.
PRINCIPLES of the IBEC's work with government bodies
Honesty
Adherence to ethical behavior, honesty and responsibility in its activities. Strict adherence to the IBEC Code of Corporate Ethics
Legality
Compliance of actions with legitimate business goals, the interests of the Bank, subject to the requirements of the laws of the country of the counterparty. IBEC takes all reasonable measures to ensure that positions presented to the Bank’s governing bodies are based on factual data and not on opinions
Accountability and oversight
Mandatory coordination of goals and approaches to working with contacts, as well as planning activities and regular reporting to the Bank’s management
Consistency
The responsible division of IBEC plays a key role in ensuring consistency of all work with contacts carried out on behalf of the Bank or in connection with its objectives
Transparency
IBEC speaks openly about the guiding principles, goals, policies and procedures for its work with contacts in government agencies
Key partners for the implementation of the IBEC Country Strategy in Bulgaria:
  • Ministries and Departments;
  • Diplomatic missions;
  • Trade representations;
  • Intergovernmental commissions;
  • Bulgarian Chamber of Commerce and Industry;
  • Bulgarian Export Insurance Agency;
  • Bulgarian Agency for the Development of Small and Medium Enterprises;
  • Bulgarian Industrial Capital Association.
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