The Bulgarian Development Bank (BDB) has joined the European Commission’s newly launched EastInvest Facility, an initiative designed to bolster lending support for EU member states bordering Russia, Belarus, and Ukraine, the BDB announced Friday.
The EastInvest Facility, formally unveiled on February 26th, aims to address the economic and security challenges faced by these eastern border regions following Russia’s war against Ukraine. The initiative is central to the EU’s broader strategy for these regions, adopted last week, according to the European Commission.
Bulgaria is among the countries identified as being most affected by the war in Ukraine, alongside Finland, Estonia, Latvia, Lithuania, Poland, Slovakia, Hungary, and Romania. The European Commission’s strategy acknowledges the impact of hybrid warfare, weaponized migration, economic disruption, and demographic decline on these regions.
The facility will coordinate lending and advisory support, extending assistance to local public authorities. It will focus on addressing investment needs identified within the development strategies of the regions bordering Russia, Belarus, and Ukraine, utilizing targeted lending from participating institutions.
The European Commission intends to facilitate access to financing through loans and advisory support provided by institutions including the European Investment Bank and the World Bank. For the Baltic States, the Commission has proposed accelerating the connection of electricity transmission networks to the EU system and developing cross-border hydrogen infrastructure.
The strategy too considers potential further support for EU countries in the area of security, including the development of a surveillance network along the Eastern Flank – described as an “anti-drone wall” – as well as a European air defence and a European space shield.
The launch of EastInvest follows a declaration signed by Lithuania and eight other EU states acknowledging the heightened risks and vulnerabilities in the region. The initiative seeks to strengthen these regions as a matter of both solidarity and strategic investment in European security, competitiveness, and stability.
