The parliamentary Foreign Affairs Committee has backed a bill to ratify an agreement between the International Bank for Economic Cooperation (IBEC) and the Bulgarian Government on the final settlement of mutual claims and liabilities arising from Bulgaria’s withdrawal from the agreement governing the organization and activities of IBEC and from its membership in the bank. The bill, submitted by the Council of Ministers, was approved by the committee with 13 votes in favour, with no votes against or abstentions.
Bulgaria’s participation in IBEC’s paid-in capital amounts to EUR 15.1 million. Under the agreement, IBEC will repay the Republic of Bulgaria the full amount of its contribution to the bank’s paid-in capital over a period of 20 years through increasing annual instalments, Gergana Beremska, Director of the International Financial Institutions Directorate at the Ministry of Finance, said while presenting the bill.
Bulgaria’s membership in IBEC was terminated on August 17, 2023, under legislation adopted by the National Assembly denouncing the Agreement on the Establishment of the International Investment Bank and the Agreement on the Organisation and Activities of IBEC, Beremska said.
On April 28, 2026, Bulgaria’s Finance Minister signed the agreement in Sofia on behalf of the Bulgarian Government, subject to subsequent ratification. On May 20, 2026, the Chairman of IBEC’s Management Board and one of the bank’s Management Board members signed the agreement in Moscow on behalf of the bank, according to the explanatory notes to the bill, Beremska added.
Parliamentary Foreign Affairs Committee Backs Ratification of Agreement on Bulgaria’s Withdrawal from IBEC THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-10-07 15:14:37
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