The European Bank for Reconstruction and Development (EBRD) has launched a new technology hub in Sofia, deepening its presence in Bulgaria as part of a strategy to decentralise operations and move closer to clients, the bank said on June 18.

Located in Sofia’s Green Tower office building, the new centre will support the EBRD’s operations across all business lines, with a focus on cloud technologies, software engineering, cybersecurity and AI.

The hub was opened by EBRD vice president for banking Matteo Patrone alongside Bulgarian Deputy Prime Minister Alexander Poulev, following a host country agreement signed last year that set the framework for expanding the lender’s footprint.

The Tech Sofia centre has already recruited 51 IT professionals and plans to employ more than 100, tapping into Bulgaria’s growing reputation as a regional technology and innovation hub.

“This represents the fulfilment of a key strategic aim – to decentralise so we can be closer to our clients,” Patrone said, adding that the expansion would strengthen the bank’s ability to deliver impact.

The move comes as the EBRD ramps up investment in Bulgaria. The bank invested €295mn across 17 projects in 2025, up from €272mn in 2024 and above its recent five-year average. It has already invested around €200mn in 2026.

Active in Bulgaria since 1991, the EBRD has invested more than €5bn in over 320 projects spanning infrastructure, finance, industry and agribusiness. Its priorities include boosting competitiveness, supporting the green transition and developing capital markets as the country moves towards euro adoption.

Poulev said the EBRD remained one of Bulgaria’s key institutional partners, helping the country transition to a market economy and improve corporate governance, productivity and integration into European supply chains.

He added that the government is pushing reforms to consolidate investment policy and promote advanced technologies, including artificial intelligence, to support businesses and modernise public administration.