China development bank has supported projects for nearly 300 million euro in Bulgaria

China development bank has supported projects for nearly 300 million euro in Bulgaria

Projects for nearly 300 million euro in our country have received China development bank’s support. This financing contributes to the development of important for our country’s economy projects in the field of transport, renewable energy, construction, industry and other sectors. This became clear during the Minister of Economy Emil Karanikolov’s meeting with Mr. Wan Weidong, director of China bank of development’s branch Chuncin, responsible for Bulgaria.

Mr. Wan Weidong is on a visitation in Bulgaria to negotiate a new bilateral loan with the Bulgarian development bank. He emphasized that Bulgaria is an important partner of the China development bank and representatives of the bank see great potential and possibilities in our country. Minister Karanikolov and Wan Weidong discussed the bank’s possibilities for investment in key projects in Bulgaria such as telecommunications, agriculture, energetics and infrastructure. The Minister of Economy presented the Industrial zones in our country, pointing out that offer perfect conditions for the Chinese investors.

Both of them assessed highly the developing partnership between the Chinese and Bulgarian bank for development, which in 2017 signed a contract for receiving a long-term interbank loan for 80 million euro. This year, in the presence of the Chinese and Bulgarian prime ministers, a Framework Agreement for 1,5 billion euro was signed by the two banks, which provides negotiation for financing in the next 5 years under the initiative “Belt and Road Initiative”.

“As a whole, our economic ties with China have been developing with an ever-increasing pace in the last years and hosting of the 7th meeting of state and government leaders of the Initiative “16+1” outlined new perspectives for partnership and contributed to the deepening of the economic cooperation”, Karanikolov added.

The Chinese bank for development is one of the largest financial institutions, financing in Europe, that has assets of 2 trillion euro.