Bulgaria Government 'Won't Spend Any Money' on Belene NPP

Business » ENERGY | February 26, 2010, Friday // 13:52| Views: | Comments: 0
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Bulgaria Government 'Won't Spend Any Money' on Belene NPP: Bulgaria Government 'Won't Spend Any Money' on Belene NPP Djankov continued that the government also has no way of guaranteeing any loans from foreign investors for the project. Photo by Sofia Photo Agency

Bulgaria Finance Minister, Simeon Djankov, was categorical Friday that he will not allow any money from the state budget to go towards the construction of the Belene Nuclear Power Plant.

“In order to proceed with the Belene NPP project it is important to have a clear financial model and to complete an analysis of its economic profitability for Bulgaria, which was not done by previous governments,” Djankov stated during the parliamentary debate on the nuclear project.

He added that “in these times of global financial and economic crisis the Belene project can not be achieved with money from the state budget. And here I emphasize as Finance Minister I will not give a stotinka from the state budget for this year, next year or the next year to go to the Belene NPP.”

Djankov continued that the government also has no way either through private or public means of guaranteeing any loans from foreign investors for the project. He said that if the project is scrapped the damages Bulgaria would have to pay could reach EUR 1 B.

He concluded that due to no funding being provided by the state it is necessary to find a new strategic investor for Belene NPP, to add to the EUR 1 B that has been spent on the project by the previous Bulgarian governments.

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