Bulgaria to Invest 11 Mln Euro in Dam Construction, Rehabilitation in 2014
Saturday, 14 December 2013
Bulgaria plans to invest 23 million levs ($16.1 million/11.8 million euro) in 2014 in the construction of two dams in Southern Bulgaria and the rehabilitation of existing ones, the regional development ministry said.
The country expects an additional 92 million lev loan from the World Bank for the projects until 2017, the ministry said in a press release.
The two new dams in the Panagyurishte and Rudozem regions in Southern Bulgaria are expected to be completed by 2017.
“For the first time in 20 years we will begin to invest in the construction and rehabilitation of dams,” regional development minister Daniela Terzieva was quoted as saying.
The World Bank lent Bulgaria the funding back in 2010 but the project was not launched since it lacked state financing, Terzieva added.