Bulgaria Gives State-Owned BDZ More Time to Repay Aid

Bulgaria Gives State-Owned BDZ More Time to Repay Aid

Bulgaria's government said on Wednesday that it has extended by one year state-owned railway company BDZ Holding's deadline to repay the funds it received from the country last year. The new deadline is December 30, 2019, the government said in a statement following its weekly meeting. In August 2017, BDZ Holding received 62 million levs ($35.9 million/31.7 million euro), which it had to repay by the end of 2018.A total of 20 million levs were intended to cover payments due on BDZ’s second bond issue, while the remaining 42 million levs were needed by the company to repay a loan provided by the World Bank, Bulgaria's government said at the time.

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