NEWS

Head of State and EBRD President Discussed Investments in Transport Connectivity and Energy Development

Promoting investments in expanding transport connectivity and in the energy sector was discussed at a meeting today between Head of State Rumen Radev and the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso who is visiting Bulgaria in the context of the preparation of the Bank's new five-year strategy for this country.

During the meeting, the potential of Bulgaria to establish itself as a hub for renewable energy storage in the Southeast Europe region, including through the construction of PAHP capacities and the efficient use of geothermal energy, was discussed. Investments in this direction will not only contribute to improving this country's energy security, but will also support the energy balance in the region, Radev said.

In the course of the talks, the sides also discussed projects to expand transport connectivity in Southeast Europe in order to boost the region's competitiveness and economic growth. The President highlighted good fibre optic connectivity, digital infrastructure, availability of specialists in the IT sector and energy diversification as key prerequisites for attracting large-scale investments in the country in the field of artificial intelligence such as gigafactories and last-generation data storage and processing centres.