Japan Bank for International Cooperation (JBIC) and the Bulgarian Finance and Foreign Affairs Ministers started negotiations on an agreement that is to grant guarantee for the investment credit to Sofia Municipality. JBIC is going to extend a credit worth USD 104 M for the construction of the Sofia subway. The loan should be repaid over thirty years, with a ten-year gratis period. Part of the loan that will finance the construction and engineering activities will be extended with an interest of 2,2%. An interest of 1,8% will be imposed on the remainder that is to be used for consultant services. The loan will finance the metro construction from station seven to station nine near the “Yunak” stadium. This is the most difficult part of the subway route, as far as technology is concerned. Once the Government approves the credit, the financing will be ratified by the Parliament.

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