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.

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