EIB Mulls 18 Mln Euro Loan For Construction Of Sofia Ring Road Section

EIB Mulls 18 Mln Euro Loan For Construction Of Sofia Ring Road Section

The European Investment Bank (EIB) said on Tuesday it is considering lending 18 million euro ($24.3 million) to Bulgaria’s Road Infrastructure Agency to co-finance the construction of a section of Sofia’s ring road.
The 16.46-kilometre six-lane Sofia Northern Speed Tangent will require the construction of five major interchanges and various bridges and structures as well as the relocation of several gas pipelines and high voltage electricity lines, EIB said in a notice on its website.
The total project, estimated to cost 120 million euro, is co-financed by the EU Cohesion Fund.
The project is located on a Trans-European Transport Network (TEN-T) network.

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