EBRD TO LEND EUR 41,1 M FOR A NATIONAL ELECTRICITY COMPANY PROJECT

Business | January 16, 2002, Wednesday // 00:00

The European Bank for Reconstruction and Development (EBRD) will float a loan of EUR 41.1 M for the implementation of a project of the National Electricity Company. The project will involve rehabilitation and modernization of Bulgaria's power transmission system. The loan has to be repaid for 13 years, with three years grace period. The loan will be paid in six month installments, based on a floating interest rate. The loan and the guarantee agreement with EBRD are to
be signed on January 16. The guarantee agreement will be signed by Finance Minister Milen Velchev and Anthony Marsh, EBRD Director for Power and Energy. The loan agreement will be signed by the National Electricity Company Executive Director Vassil Atanassov.

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