BNB licenced to print euro banknotes
19 May, 2017
The Printing Works of the Bulgarian National Bank has obtained the right to produce euro banknotes after Оbеrthur Fіduсіаіrе AD - Sofia, a joint venture of Printing Works of the Bulgarian National Bank and Оbеrthur Fіduсіаіrе ЅАЅ - France, was accredited by the European Central Bank.
It gives the joint venture the right to enter tender procedures for euro banknote production organised by the central banks of Eurozone members. Deputy Governor of BNB Kalin Hristov submitted the application in the middle of 2015. Back then, he explained that Bulgaria will prepare better that way for the introduction of the euro and will be able to make the transition quickly and smoothly when the time comes.
In the short span since its registration in November of 2013, the joint venture successfully passed the three stages of accreditation by the European Central Bank - security, technological capacity, and labour conditions and environmentally friendly production.
Over that period the number of the joint venture’s employees increased from 57 to 225, entirely composed of Bulgarian management personnel, experts and workers, while the volume of banknotes printed for the international market grew from 60 million to 1 billion.