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Bulgaria, Capital Sofia Get Infrastructure Aid from EIB
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Marta Gajecka, Vice-President of EIB (left), and Bulgaria's Finance Minister Djankov (right) singed a Cooperation Memorandum Thursday. Photo by BGNES
The Sofia Municipality and the European Investment Bank signed Thursday a EUR 43,5 M loan, which will be used to improve the road infrastructure of the Bulgarian capital.
The agreement was signed by the EIB Vice-President Marta Gajecka and the acting Mayor of Sofia Minko Gerdzhikov in the presence of the Prime Minister Boyko Borisov. The loan application was started by Borisov when he was still the Mayor of Sofia.
Gajecka and Bulgaria’s Finance Minister Simeon Djankov also signed a Memorandum for Cooperation on large infrastructure projects in Bulgaria. The agreements provides for technical aid for Bulgaria on improving the supervision and implementation of large transport and infrastructure projects which are co-funded by EU grants or EIB loans.
In addition, the EIB signed a mechanism under which Bulgaria is getting EUR 50 M from Eurobank EFG as funding for small and medium-sized enterprises.
“We are getting the cheapest money in Europe without needing any additional guarantees,” PM Borisov pointed out reiterating the government’s commitment to infrastructure projects in Sofia.
Gajecka has stated that the EIB was set to continue its cooperation with Bulgaria, and hoped the loans would help increase the quality of life of the Bulgarians.
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