Bulgaria will implement innovative environmental projects which will be financed by Germany through grants and interest-free loans, the Environment Ministry in Sofia announced on Monday.

Under a Bulgarian-German agreement signed on the sidelines of the regular meeting of the Council of Environment Ministers in Luxembourg, Bulgaria will propose the projects for funding, the ministry said in a statement.

The investments will be made in projects with transborder environmental impact, which can cut the pollution of coastal waters or air pollution in border regions, as well as projects promoting environmentally sound and climate-friendly economic development, according to the statement.

The financial assistance under the agreement will be also directed to enterprises that implement environment-friendly investments as well as local governments and municipal enterprises.

The agreement was signed by Bulgaria’s Environment Minister Ivelina Vasileva and Rita Schwarzeluhr-Sutter, Parliamentary State Secretary to Germany’s Federal Minister for the Environment.

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