“I was here at the founding of the Ecofund. I was here to celebrate its 20th anniversary. Today, I am here again for the ceremonial celebration of its 30th year, because the story of the Ecofund matters: it perfectly illustrates the value of well-functioning institutions,” said Kristalina Georgieva, Managing Director of the IMF, in her speech on June 2nd in the Aula Magna of Sofia University “St. Kliment Ohridski” at the event marking the 30th anniversary of the National Trust EcoFund (NTEF), as quoted by Dnevnik. She is one of the fund’s founders in 1995. “Everyone who has contributed to its work can be proud of it. It helps preserve water, air, and biodiversity—the natural heritage we are obliged to protect and pass on to our children and grandchildren. It is also part of the story of Bulgaria’s transition—from the time it was established in 1995 until today, Bulgaria has moved from central planning to a well-functioning market economy. The Ecofund is part of this institutional transformation.”
“The Ecofund is a pillar of Bulgaria’s economic transformation,” Georgieva added, as quoted by Agrozona.
Over the past 30 years, the NTEF has funded more than 500 projects by municipalities, schools, universities, businesses, research institutes, and civil society organizations with a total amount of about 121 million BGN, stated Minister of Environment and Water Manol Genov, as quoted by BTA, Agro, and other media. “The role of NTEF over the years has been crucial because it is a partner of the state in the development of environmental policies—in advancing energy management and implementing climate change adaptation measures at the municipal level, as well as using instruments to mobilize private funds for public projects,” the Minister added.
Beyond being a financing institution, the National Trust EcoFund (NTEF) is also an active participant in shaping and updating environmental protection policies. This ensures a comprehensive, holistic approach to solving specific environmental problems. This was stated in an interview for BTA by Maria Minkova, Executive Director of the Fund, on the occasion of NTEF’s 30th anniversary. She noted that since the Fund’s establishment in 1995, over 500 projects have been implemented across more than 150 municipalities. The average funding percentage provided by the Fund to date is about 46%.
The Fund’s activities are focused on four priority environmental areas: reducing air pollution and limiting and adapting to climate change; supporting the national ecological network and preserving biodiversity; water management; and eliminating pollution and environmental damage inherited from the past. In addition to its role as a financing body, the NTEF actively participates in shaping and updating environmental policies, Minkova emphasized.
The institution manages public funds intended for environmental protection in Bulgaria, Agro TV reminds. It was established in 1995 following a debt-for-environment swap agreement between Bulgaria and Switzerland.
“The celebration went very well, with many kind words. For us, all of this is a great responsibility. It won’t be easy now after so many nice things were said and expectations set so high,” said Kamelia Georgieva, a member of the Ecofund’s Executive Bureau, in an interview with Agro TV.
“The Fund is an independent institution. Decisions are made by a Management Board that includes a balance of representatives from both the state and the non-governmental sector,” said Maria Minkova, Executive Director of the Fund, to Agro TV.
Something new on the horizon is the upcoming agreement between Bulgaria and Switzerland under the Bulgarian-Swiss Cooperation Programme for a project to renovate mountain huts in Rila National Park. In an interview for BNR, Maria Minkova said the role of the Fund would be to conduct a fair and transparent selection of the huts that will receive financial support for renovation and to develop a comprehensive model for how such renovations should be approached when public funds are used.
