Bulgarian Railways Revise World Bank Loan Plans

Bulgarian Railways Revise World Bank Loan Plans

Bulgaria's state-owned railways operator BDZ and the National Railway Infrastructure Company (NRIC) will seek to borrow from the World Bank less than the planned 600 million levs ($395.9 million/306.7 million euro).

The cut in the size of the loan, which should help finance debt payments through 2014, would not mean that activities already agreed upon with the international lender as a condition for obtaining the financing, will not be performed, local Capital Daily reported, quoting transport minister Ivailo Moskovski.

The transport minister added that it remains to be decided how the funds will be distributed among the two companies. 

Initially, BDZ was to receive 460 million levs and NRIC was to get 140 million levs of the World Bank loan.

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.