Bulgaria Approves up to 71.6 Mln Euro Bailout Loan to State Railways

Bulgaria Approves up to 71.6 Mln Euro Bailout Loan to State Railways

Bulgaria's parliament on Thursday said it approved the lending of up to 140 million levs ($99.8 million/71.6 million euro) to troubled state railways operator BDZ to back the company's restructuring plan.

The conditions for extending and servicing the loan will be set by an agreement between the finance minister, the transport minister and state-run Bulgarian Development Bank, to endorsed by the government, the parliament said in a statement.

The disbursement of the loan is tied to the approval by the European Commission of the BDZ restructuring plan which has already been submitted by the Bulgarian government.

 

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