European Investment Bank Loans Bulgaria EUR 700 M for Road Construction

Business | Author: Maria Guineva |June 13, 2008, Friday // 00:00

European Investment Bank Lands Bulgaria EUR 700 M for Road Construction

The European Investment Bank has granted Bulgaria a loan in the amount of EUR 700 M to for the realization of road infrastructure projects. The Cabinet has approved the loan agreement and had moved it to the Parliament for its approval.

The money will be deposited in the State budget until 2013 and will be used to finance projects included in the EU "Transport" and "Environment Protection" programs.

The loan term is 25 years with a 7-year grace period.

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