EIB Lends 500 Million Euros to Bulgaria

EIB Lends 500 Million Euros to Bulgaria

The European Investment Bank (EIB) is lending to Bulgaria 500 million euros for co-financing priority projects supported by EU funds during the 2014 – 2020 Programming Period, said Bulgaria's Finance Ministry.
The EIB loan will cover the national co-financing contributions under Operational Programmes in the areas of transport (including urban transport) and the environment.
The contract was signed by Finance Minister Vladislav Goranov and EIB Vice-President Laszlo Baranyay on Thursday in Sofia.
Before the ceremony Goranov said the agreement was a good basis for future co-operation with EIB and added he hoped that the bank would expand its role in the private sector.
“The EIB loan will co-finance priority projects with a total investment amount of 4.3 billion euros in Bulgaria,” Baranyay said, quoted by EIB. “This will accelerate the absorption of EU grants for the benefit of the national economy, strengthening its competitiveness and fostering economic growth and employment. The EIB lending is complementary to technical assistance provided by the EIB with a view to receiving EU grants”.
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