Bulgaria PM, EIB President to Discuss Deepening Cooperation

Bulgarian Prime Minister Boyko Borisov will meet Friday European Investment Bank (EIB) President Werner Hoyer, according to the government's press office.

Hoyer is on a one-day visit to Bulgaria at the invitation of Deputy Prime Minster and Finance Minister Simeon Djankov.

This will be Hoyer's first visit to Bulgaria in his capacity as EIB President.

Hoyer is accompanied by EIB Vice President Wilhelm Molterer, EIB Secretary General Alfonso Querejeta, and experts of the financial institution.

During his visit in Sofia, the EIB President will meet with Prime Minister Borisov, Finance Minister Djankov, EU Funds Minister Tomislav Donchev, and Foreign Ministry officials.

Borisov and Hoyer will discuss the EIB's priorities in the provision of financial resources for generating growth and employment in EU Member States and opportunities for deepening cooperation with Bulgaria via co-financing of large-scale infrastructure projects.

The EIB has invested around EUR 3.3 B in Bulgaria, of which over EUR 1 B went into the private sector.

EIB co-financing is currently used in a number of significant projects like the reconstruction of the railway line connecting Plovdiv and Svilengrad, Danube Bridge 2, Transit Roads V, a project for the construction of an integrated system of facilities for treatment of household waste of Sofia Municipality, etc.

In January 2012, a Memorandum of Understanding was signed between the Bulgarian government and the EIB for support in the implementation of projects financed under EU Structural Instruments.

The EIB also supports the competitiveness of small and medium-sized enterprises in Bulgaria via credit lines through intermediary banks and provides resources in cases of insufficient funding for the implementation of projects under EU operational programs by municipalities and public institutions.