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

Ancient villa beneath Sofia set for a new chapter

Today, architecture students from the University of Architecture, Civil Engineering and Geodesy in Sofia are presenting new proposals for integrating the remains of the Roman Villa Rustica into the city's modern urban environment. Their aim,..

published on 10/22/25 8:30 AM

Warm autumn weather in the forecast

On Wednesday minimum temperatures will range between 3° C. and 8° C., for Sofia around 4° C. Visibility will be diminished in the morning in the valleys and lowlands. During the day the weather will be predominantly sunny with a temporary increase..

published on 10/21/25 6:45 PM

Myara agency: Crimes and incidents continue to be a major source of tension

Social tensions from 1 July until 30 September this year are estimated at an index of 6.09, meaning “risks that are difficult to control”, on a scale of 1 to 210, indicates a survey by the sociological agency Myara, the Bulgarian news agency BTA..

published on 10/21/25 4:09 PM