The National Assembly has agreed that Bulgaria will participate in the capital increase of the Council of Europe Development Bank (CEB). The proposal, made by the caretaker government with the decision on May 11 this year, received the approval of 113 MPs. Another 34 voted against, with not a single abstention.

With today's decision, the Parliament allowed our country to participate in the capital increase of the bank by subscription of new participation certificates amounting to EUR 48 465 000 under the conditions set by a decision of the Governing Council of the financial institution. The portion of the paid-in capital amounts to 13,868,516 euros, the legislature said in today's decision.

The arguments for the capital increase of CEB, written in the motives of the proposal, are related to the economic recovery from COVID-19, the consequences of the war in Ukraine and its accession to the bank, as well as the need to finance socially significant projects in the member states.

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During the debates against the decision, the parliamentary group of "Vazrazhdane" announced, where they said that their non-support for the capital increase was "a matter of civilizational choice".

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