Bulgaria Eyes Rescheduling of Rail Co's Debt to KFW IPEX-Bank

Bulgaria Eyes Rescheduling of Rail Co's Debt to KFW IPEX-Bank

The Bulgarian government said it has mandated the country's transport and finance ministries to negotiate the rescheduling of the financial obligations of state railway company BDZ Holding towards Germany's KfW IPEX-Bank.

The company's outstanding obligations towards KFW IPEX-Bank totalled 41.4 million euro ($27.7 million) as of October 16, the government said in a statement issued following a regular weekly cabinet meeting.

BDZ borrowed the money to purchase Desiro trains from Germany's Siemens.

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