EBRD TO LEND EUR 35 M FOR SOFIA TRANSPORT

Business | April 10, 2002, Wednesday // 00:00

The European Bank for Restructuring and Development (EBRD) will lend EUR 35 M to Sofia municipality for the upgrade of the Sofia city transport. The agreement on that will be signed on April 29 by Sofia Mayor Sofianski. The loan will be seven-year with three-year grace period and will carry an interest rate 3,5 to 4,0 above the six-month EURIBOR. EUR 5,7 M will be used for the purchase of twenty new trolley buses, EUR 15,4 for forty new buses, the rest of the loan will be used to introduce a new transport fare system that will replace tickets with swipe cards. Tenders for supply of the vehicles will be held under the EBRD rules and the Public Procurement Act, which would enable prestigious companies like Mercedez, Iveco, Volvo and MAN to bid.
Business » Be a reporter: Write and send your article

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria