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Commenting article: Russia Grants Bulgaria Belene NPP Loan without State Guarantee

Russia is going to grant Bulgaria a loan for the construction of the Belene Nuclear Power Plant, Energy Minister Traikov announced after meeting his Russian counterpart Shmatko.

Bulgaria’s Minister of Economy, Energy, and Tourism, Traicho Traikov, met with Russian Energy Minister Sergei Shmatko and the CEO of the Russian state company Rosatom in Sofia over the Bulgarian request for a EUR 2 B loan from Rosatom for the construction of the Belene NPP.

Traikov announced after the meeting that the Russian loan will be granted to Bulgaria without any corporate or state guarantees. The aim of the loan is to proceed with the construction phase of the project even though a strategic foreign investor has not been selected yet as the German company RWE withdrew in the fall of 2009.

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#1
George Zheliazkov - 19 Feb 2010 // 15:54:31

Traikov,


A friend in need is a friend indeed!

Traikov, where are your investors?

You will learn, it may take you some time but you’ll learn! Bulgaria and the whole Balkans historically wouldn’t be in such a mess if there were any major western investors interested. And this believe me will stay that way forever.

Western Europe and the US is pretty much just cheap talk when it comes to the Balkans and I would never expect any MAJOR investments from any of them.

My advise to all Balkan countries which will need lots of new power capacities for the extremely competitive global markets is:

Build more nuclear power plants! Just make it possible regardless of who is financing it!

Here few helpful hints :-)

http://en.rian.ru/infographics/20100219/157941323.html

#2
NellieotAmerica - 19 Feb 2010 // 19:43:13

George

" Bulgaria and the whole Balkans historically wouldn’t be in such a mess if there were any major western investors interested. And this believe me will stay that way forever. "

No one will invest in Bulgaria for the same reason no one will invest in Somalia--weak government, no laws, no justice, rampant piracy and crime.

And that's as it should be. No investors should be swindled into investing in Bulgaria while Bulgarians are criminals, embezzlers, swindlers, pimps, drug traffikers, and drug smugglers. With help from the Bulgarian judiciary and the highest government bureaucrats, I might add.

#3
George Zheliazkov - 19 Feb 2010 // 20:45:41

Nella,

“No one will invest in Bulgaria for the same reason no one will invest in Somalia--weak government, no laws, no justice, rampant piracy and crime.”

I’m glad you are finally learning something Nella, the key word here is GOVERNMENT.
We had a huge discussion the other day with you and your anarchist (schizophrenic) friend DP when you were bitching against the government of any sort.

About Bulgaria and all of the Balkans you are HIGHLY exaggerating of course, Bulgaria is NOT Somalia it never was and will never be. Bulgaria at the moment happens to be the most stable financially country on the Balkans.

The problem of Europe and ESPECIALY Western Europe is the snobbish nationalistic animosities, which historically was and still happens to be the main EU problem.

Europe and the whole of Eurasia have the best positioning in the world based on riches, talent pool, labor force etc.

ALL THEY HAVE TO DO IS COLLABORATE!

#4
DP - 19 Feb 2010 // 21:12:32

"We had a huge discussion the other day with you and your anarchist (schizophrenic) friend DP when you were bitching against the government of any sort."

No, Gosho, “we” didn't have any discussion about the role of the government. I did not participate in your discussion with Nellie.

You completely lost your composure and became very abusive verbally towards me calling me bitch countless times in one post. Now you switched to calling me anarchist and schizophrenic for no reason at all. You are just proving what a low life you are. A jerk.

Schizophrenia is a mental disease and you should show some sensitivity towards its victims. It is not an insult to me but to all the people that suffer the condition. As far as anarchists go, be my guest...It is downright silly...

So, take it easy. Prestani da se izlagash....

#5
DrFaust - 21 Feb 2010 // 17:07:21

"No one will invest in Bulgaria for the same reason no one will invest in Somalia--weak government, no laws, no justice, rampant piracy and crime."

That's a bit exaggerated. There is considerable foreign investment in Bulgaria, but indeed it is less per capita than in any other EC member state, and this has a lot to do with the investment climate in Bulgaria.

Instead of building dozens of nuclear reactors, what about improving the investment climate? That would be much more safe and efficient.

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