Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Parliament sets up ad-hoc committee to investigate USD 1 bn. deal with Gemcorp

Photo: BGNES

After fierce debate, the MPs adopted, with full unanimity, the motion by GERB party for the formation of an ad-hoc committee to look into all circumstances concerning the signing and the termination of the memorandum with Gemcorp Holdings Limited and IP3 Corporation by the Kiril Petkov government, BGNES reports.

According to Kiril Petkov, then prime minister, the memorandum was expected to yield investments amounting to USD 1 bn. in green energy. According to We Continue the Change, the issue is no longer relevant, as the memorandum has been terminated and the matter is now being played up to divert attention from the real issue – that GERB is unable to form a government. However, We Continue the Change supported the establishment of an ad-hoc committee because “it has nothing to be afraid of”.

Kiril Petkov’s government declared it had terminated the memorandum on 20 July and the country will not be liable to pay any compensation. “We simply terminated it today so the matter will no longer be subject to speculation,” Kiril Petkov said at the time. A few days ago, GERB party stated they had documents according to which the agreement has not been terminated.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Vietnam Communist Party leader To Lam on official visit to Bulgaria

To Lam, the General Secretary of the Communist Party of Vietnam, is on an official visit to Bulgaria. He was welcomed at a ceremony in St. Alexander Nevsky Square by President Rumen Radev and his wife, Desislava Radeva, as reported by the Bulgarian..

published on 10/23/25 2:25 PM
Boyko Borissov

Bulgaria could face fuel shortages if Lukoil stops operating, says GERB leader Borissov

Bulgaria could run into fuel shortages if the Lukoil Neftochim refinery stops operating, former Prime Minister and GERB leader Boyko Borissov warned on Thursday. Prime Minister: Bulgaria has a month to decide how to proceed after US sanctions on..

published on 10/23/25 2:13 PM

Prime Minister: Bulgaria has a month to decide how to proceed after US sanctions on Lukoil

Bulgaria has until 21 November to decide how to proceed with the Lukoil Neftochim refinery, Prime Minister Rosen Zhelyazkov said on Thursday ahead of a meeting of EU leaders in Brussels. He was apparently referring to the end of a US Treasury..

published on 10/23/25 1:57 PM