The Head of the European Investment Bank Office in Bulgaria Delivered Lecture to Students of Speciality International Economic Relations

Mr. Teodor Radonov, Head of the European Investment Bank /EIB/ Office in Bulgaria, delivered a lecture to the students of specialty International Economic Relations in the discipline International Business Analysis led by Chief Assist. Dr. Tsvetomir Tsanov. Mr. Radonov has held this position in Bulgaria since April 2021 after eight years of work at the European Investment Fund - part of the EIB Group where he was responsible for securitization and guarantee products and was involved in the structuring of a number of EIB financial instruments and their subsequent implementation in Bulgaria.

Teodor Radonov, Head of the European Investment Bank Office in Bulgaria

Mr. Radonov get the students know about the EIB Group activities in providing debt and equity financing, reaching projects that contribute to the achievement of the key EU priorities and objectives. The European Investment Bank whose shareholders are the EU Member States is in fact the largest multilateral financial institution in the world. Current priorities in the EIB Group activities are the support of small and medium-sized enterprises, innovation, environmental projects, cohesion projects - aimed at overcoming regional imbalances and ensuring social cohesion. Among the EIB objectives is to become the EU Climate Bank mobilising €1 trillion by 2030 to finance green projects and climate resilience.

A special highlight in Mr. Radonov's presentation was the EIF activity in providing funding to support venture and private equity instruments and funds. Over the years it has resulted in the investment of nearly EUR 29 billion of capital in over 1 000 European venture funds and private equity funds.

Teodor Radonov: EIF is the largest investor supporting the development of the private equity and venture finance ecosystem in Bulgaria

The support of the EIF is also at the heart of structuring the start-up ecosystem in Bulgaria which is among the best developed in Southeast Europe. The EIF capital investments of more than EUR 200 million in 11 funds in Bulgaria mobilize additional private capital /crowding-in effect/ and reach hundreds of projects of entrepreneurs launched in the country some of which become successful companies on international markets.

In addition, Teodor Radonov presented actual examples of quasi-equity financing provided directly by the EIB and granted to high-tech companies from Bulgaria that manage to position themselves successfully on the global market. The facilitated conditions and financing structure for such projects are made possible by the European Guarantee Fund established by the EIB Group and EU Member States.

Teodor Radonov and Chief. Assist. Dr. Tsvetomir Tsanov, International Economic Relations and Business Department

Sharing his experience in the ensuing discussion with the students Theodore Radonov highlighted the importance of acquiring specialized knowledge and necessary new skills, of having the courage to launch new initiatives in collaboration with colleagues from different countries, using the advantages of learning and working in an international environment. For example, the EIB Group various financing instruments and products provide for the mobilization of significant additional capital resources but also risk sharing, which often unlocks the potential of entrepreneurial projects to become regional or even global champions.

Tedor Radonov and Assoc. Prof. Dr. Vasil Petkov

The lecture ended with awarding a Certificate of Appreciation to Mr. Radonov as a sign of gratitude for his commitment to the work of International Economic Relations and Business Department which was bestowed on him by Assoc. Prof. Dr. Vasil Petkov, Head of the Department.