The Ministry of Finance has proposed a loan to be granted for up to 20 years on behalf of the state from funds borrowed from the European Bank for Reconstruction and Development, with the cost of this loan increasing by 0.001 percentage points. This move aims to secure funding for various development projects and initiatives within the country.
One of the key players in this initiative is the State Asset Bank, which has set a goal to reduce its centrally managed administrative real estate portfolio from 691,000 to 476,000 square meters over the period of 2025-2034. Additionally, the bank aims to increase the proportion of well-maintained buildings within its portfolio from 59% to 85%. This strategic shift is expected to optimize the bank’s real estate assets and improve overall operational efficiency.
By renovating real estate assets and divesting surplus properties, the annual maintenance costs of these assets are projected to decrease by approximately 7.3 million euros. This cost-saving measure will not only contribute to the bank’s financial sustainability but also enhance the quality and functionality of its real estate portfolio.
In a significant development, the Ministry of Finance and the European Bank for Reconstruction and Development signed a loan agreement worth 57.5 million euros in May. This partnership underscores the commitment of both entities to support economic development and infrastructure projects that will benefit the country and its citizens.
Overall, the collaboration between the Ministry of Finance, the State Asset Bank, and the European Bank for Reconstruction and Development reflects a strategic approach to financial management and infrastructure development. By leveraging external funding sources and implementing cost-saving measures, these institutions are working towards achieving long-term sustainability and efficiency in managing real estate assets and supporting national development goals.