Bulgaria's Capital Seeks 50 Mln Euro EIB Loan for Street Upgrades

Bulgaria's Capital Seeks 50 Mln Euro EIB Loan for Street Upgrades

Bulgaria's capital Sofia is in talks with the European Investment Bank (EIB) on a 50 million euro ($65.4 million) loan for street upgrades.
If the sides reach an agreement on the terms of the loan, it will be used to finance the reconstruction of the Lavov Most road junction in downtown Sofia and 20 boulevards, deputy mayor Lyubomir Hristov said, as quoted by business news portal Dnevnik.bg.

According to Hristov, the procedures of selection of contractors and project development will be finalised by the end of the year. Construction works on some of the projects will begin in the spring of 2014. 

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