Nearly 20% of Households in Bulgaria and Greece Face Winter Without Adequate Heating
Nearly one in five residents in Greece and Bulgaria struggle to keep their homes warm
Society | December 15, 2025, Monday // 23:00
Bulgarian Development Bank to Step up Ties with China’s ICBC
- Tweet
Send to Kindle
BDB headquarters in Sofia, Bulgaria. Source: bbr.bg
State-owned Bulgarian Development Bank (BDB) and the Industrial and Commercial Bank of China (ICBC) have signed a memorandum of understanding that aims to encourage future cooperation in cross-border funding, bilateral loans, investments and trade, the BDB said on Wednesday.
The document formalizes a commitment to long-term strategic partnership between the two banks and provides for the exchange of expertise and good practices in the area of co-financing of major infrastructure projects and the implementation of joint research and analysis, the BDB said on its website.
The MoU was signed on Tuesday during the China and Central and Eastern European Countries Economic and Trade Forum in Suzhou, China.
After the signing ceremony, top BDB and ICBC officials discussed opportunities for the opening of bilateral credit lines to stimulate Bulgarian exports to China, with priority attached to agricultural exports, as well as exports of Chinese companies to Bulgaria.
ICBC said it was ready to share know-how related to financing of small and medium-sized enterprises, which accounts for about 15% of the bank's portfolio, according to BDB. The Chinese bank also showed interest in the opening of direct credit lines to the BDB as well as taking part in future bond issues of the Bulgarian bank.
Industrial and Commercial Bank of China also expressed interest to programs of national character, as well as the provision of direct credit lines of BDB and participation in future financings of Bulgarian Development Bank.
The BDB is focused on lending to small and medium-sized enterprises. Its subsidiary, the National Guarantee Fund, issues guarantees for bank loans to the non-financial sector.
The ICBC, the world’s largest bank by assets, is present in 41 countries worldwide, providing financial products and services to five million corporate customers and 465 million personal customers. In 2014, ICBC was named the “Global Bank of the Year” by The Banker, ranked in the first place among the Top 1000 World Banks by The Banker and the largest enterprise in the world among the Global 2000 listed by the US magazine Forbes.
Related Articles:
Bulgarian Euro Coins: Design, Symbols, and Security Features
All euro coins share a common European side that shows the denomination, but each member state designs its own national side
Bulgarian National Bank Extends Cash Desk Hours Amid Strong Demand for Euro Starter Kits
The Bulgarian National Bank announced extended operating hours at its cash desks today and on Saturday, December 20, in response to heightened public demand
Business | December 13, 2025, Saturday // 10:39
Bulgaria Opens New 3 km Section of Hemus Highway Near Dermantsi
Traffic is set to open around noon today on a newly completed 3-kilometre stretch of the Hemus highway
Society | December 13, 2025, Saturday // 10:34
Bulgaria Joins Belgium, Italy and Malta in Cautious EU Position on Frozen Russian Assets
Italy, Bulgaria, Malta and Belgium have issued a joint statement expressing reservations about the European Union’s plan to use frozen Russian assets as the basis for a large-scale financial mechanism to support Ukraine
Scope Ratings Confirms Bulgaria’s A- Credit Score with Stable Outlook
Scope Ratings has completed its latest review of Bulgaria and confirmed the country’s long-term credit rating at A- with a stable outlook, alongside short-term ratings of S-1/Stable
Scope Ratings Confirms Bulgaria’s A- Credit Score with Stable Outlook
Scope Ratings has completed its latest review of Bulgaria and confirmed the country’s long-term credit rating at A- with a stable outlook, alongside short-term ratings of S-1/Stable
No Budget, Big Consequences: Fiscal Council Flags Risks as Bulgaria Prepares for Extension Law
At the turn of the year, Bulgaria is preparing to enter 2026 without an approved state budget
You Don’t Need to Be Rich: Bulgarians Start Investing with Just 25 Euros
In Bulgaria, the common perception that investing is reserved for the wealthy remains widespread, but recent analysis by Freedom24 shows that households can begin investing with modest amounts of 50–100 BGN (approximately €25–50) per month
Top 5 Facts About the Euro You Probably Didn’t Know
The euro has been in use since 1999 as a non-cash accounting unit and since 2002 as physical currency.
Bulgaria: Over 2 Million Retirees to See Pension Increase in 2026
Pension insurance contributions will not increase in 2026, while pensions themselves will be updated from 1 July under the Swiss indexation formula, resulting in an expected rise of 7–8%.
Digital Euro Key to Europe’s Financial and Strategic Autonomy, ECB and Commission Officials Say
The digital euro is a crucial tool for strengthening Europe’s financial and strategic independence and will complement physical cash amid the rapid digitalisation of payments.
