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For sale
2 BRS Apartment, 117 sq.m., city of Sofia, in Manastirski livadi
€ 215 000
EIB ready to co-finance Bulgaria's EU projects with up to 0.7B euro
(12.06.2008)The 25-year loan carries a seven-year grace period
The Bulgarian Government will shortly table for ratification in Parliament a loan agreement with the European Investment Bank (EIB). The deal would cover the 2007/13 period and would represent assistance for co-financing projects funded with European Union money.
The assistance would be endorsed in the form of a structured programmatic loan.
The document, to be put up for discussion on June 12, was signed on December 14 by Bulgaria's Finance Minister Plamen Oresharski and EIB vice-president Mathias Kollatz-Ahnen. The loan, whose cap is put to 700 million euro, represents a follow-up to a 2006 memorandum of understanding on the development and financing of infrastructure of the transport and basic infrastructure plan, valid through 2013.
EIB funds would flow into the state budget and would be spent by the Government.
The bulk of the funds would finance projects qualifying for financing from the Transport and Environment operational programmes.
The 25-year loan carries a seven-year grace period. The financial resource would be disbursed in a maximum of 20 tranches, the minimum size being 30 million euro.
Text source: Sofia Echo
Image source: Mirela