The parliamentary Budget and Finance Committee voted 17-1 to approve a bill ratifying an agreement between the International Bank for Economic Cooperation (IBEC) and the Bulgarian Government on the final settlement of mutual claims and liabilities following Bulgaria’s withdrawal from the Agreement on the Organization and Activities of IBEC and from membership in the bank.
Bulgaria’s membership in IBEC ended on August 17, 2023, following Parliament’s adoption of an Act on the Denunciation of the Agreement on the Establishment of the International Investment Bank and the Agreement on the Organization and Activities of IBEC.
On January 23, 2023, the IBEC Council approved terms for settling mutual liabilities between the bank and countries that had formally notified it of their withdrawal. Under the terms, the bank is to repay the withdrawing countries’ shares in its paid-in capital through increasing annual instalments over 20 years, with each country required to conclude an individual settlement agreement with the bank.
Deputy Finance Minister Metodi Metodiev, who presented the bill, said Poland and Czechia had already signed agreements with the bank to settle their mutual liabilities, while Slovakia and Romania were in the process of signing similar agreements.
The agreement on the final settlement of mutual claims and liabilities was signed by Bulgaria’s Finance Minister and representatives of the bank earlier in 2026. Under the agreement, IBEC will repay Bulgaria the full amount of its contribution to the bank’s paid-in capital, EUR 15.1 million, over 20 years through increasing annual instalments.
Budget Committee Approves Ratification of Agreement with IBEC on Settlement of Mutual Claims and Liabilities THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-10-01 14:18:37
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