CEZ Bulgaria, EBRD Sign EUR 116 M Loan Agreement

Business | November 3, 2016, Thursday // 17:08
Bulgaria: CEZ Bulgaria, EBRD Sign EUR 116 M Loan Agreement BGNES

CEZ Razpredelenie Bulgaria AD and the European Bank for Reconstruction and Development (EBRD) have signed an agreement on a EUR 116 M loan to the energy distribution venture.

The loan is intended for the financing of investments of the company in the period 2016-2017 and will be paid back over a period of 7 years.

The investment plan for the period for utilisation of the funds is ambitious and amounts to a total of BGN 210 M.

“We are satisfied that we finalised the negotiations and signed the agreement with EBRD. The funds will be used for investments in assets in regions of the territory serviced by CEZ – Zapadna Balgariya (CEZ- Western Bulgaria), for the purchase of energy facilities constructed by third parties, for increasing the quality and reducing losses in the energy supply,” stated Karel Kral, regional manager of CEZ for Bulgaria.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Tags: EBRD, Kral, CEZ, loan, energy, investments

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria