Bulgaria Gets Loan for Dikes from German Bank KfW

Business » FINANCE | August 11, 2010, Wednesday // 20:07
Bulgaria: Bulgaria Gets Loan for Dikes from German Bank KfW Bulgarian Finance Minister Djankov will sign a loan deal with KfW. Photo by BGNES

Bulgaria will receive a loan for the construction of dikes from the German bank Kreditanstalt fuer Wiederaufbau (KfW).

The loan of EUR 34.4 M will be provided for the construction of flood prevention facilities in the Danube cities of Ruse and Silistra and the Black Sea resort town of Pomorie under the “Technical Infrastructure” Program of the Bulgarian government.

The credit agreement will be signed by Bulgaria’s Finance Minister Simeon Djankov, Deputy Regional Development Minister Lilyana Pavlova and the first VP of KfW for Europe Roland Siller.

German Ambassador to Bulgaria Matthias Hoepfner will also be present at the ceremony.

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Tags: Kreditanstalt fuer Wiederaufbau, KfW, German, Germany, loan, Ruse, Silistra, Pomorie, Matthias Hoepfner, Simeon Djankov, finance minister, Lilyana Pavlova, floods, dike, Danube River
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