PRESS RELEASE
24 February 2026
Within the annual scholarship competition of the Bulgarian National Bank (BNB), the BNB Governing Council has decided to award two 2026 scholarships to:
• Simona Antonova Nikolova, student for a Master’s in Economic and Financial Engineering, Paris Dauphine University;
• Petar Penchev Todorov, PhD Economics and Management (Entrepreneurship), University of National and World Economy.
The BNB scholarship programme is primarily designed to support students and PhD students in doing research on topics relevant to the BNB’s mandate and activities. The requirements for candidates and the terms and conditions of the BNB scholarship competition are available on the central bank’s website here.
Seventeen candidates – 10 PhD students and 7 Master’s students, submitted documents for participation in this year`s competition. One of the candidates studies at a university abroad and 16 – at universities in Bulgaria. Having reviewed the candidates’ application documents, the BNB Scholarship Committee (the Committee) has approved 13 candidates to take part in the competition procedure.
The first stage of the competition has included writing an essay on a specific, predetermined topic. For the Master’s students – “The Revival of Protectionism: Economic and Geopolitical Drivers and Implications for the Bulgarian Economy”, and for the PhD students – “The Changing Role of Global Currencies”. The candidates’ essays have been reviewed anonymously and independently by two reviewers, determined by the Committee.
Having considered the candidates` application documents and essays, the reviewers` assessments, and after additional discussions, the Committee has decided to admit six candidates to an interview – four Master`s students and two PhD candidates. At the interview, the candidates could present and argue their theses, to define their field of interests, and debate with the Committee members.
After a comprehensive assessment of each candidate`s performance, upon the proposal of the Committee, the BNB Governing Council has decided to award two 2026 scholarships – to student in Master's degree and to a PhD student.
So far altogether 547 Master’s and PhD students have applied for participation in the BNB scholarship competitions (for the period from the launch of the scholarship programme in 2004 until now), and 47 scholarships have been awarded.
