EIB to Lend 50 Mln Euro to Sofia Municipality

EIB to Lend 50 Mln Euro to Sofia Municipality

The European Investment Bank (EIB) said on Tuesday it has agreed to lend the municipality of Sofia 50 million euro ($67.8 million) to support the implementation of the Bulgarian capital city’s master plan.
The loan will finance a transport infrastructure programme including construction and rehabilitation works in Sofia during the period 2013-2016, EIB said in a statement posted on its website.
It will support the construction, reconstruction, expansion and rehabilitation of 22 small-sized road schemes, totalling 56 kilometres, and the upgrade of 7.6 kilometres of tram tracks and catenaries.
The loan represents the EIB's fourth direct lending agreement with Bulgaria’s capital city.
 
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