European Commission Gives Nod for 127 Mln Euro State Aid for Bulgarian Railways

European Commission Gives Nod for 127 Mln Euro State Aid for Bulgarian Railways

The European Commission said it has temporarily authorised state financing worth 249 million levs ($168.4 million/127.3 million euro) for the troubled Bulgarian railway operator BDZ.

"The aid is in line with EU rules on rescue aid [...], because it is limited in time and scope. The Commission approved the measure temporarily, until it can take a position on the restructuring plan to be submitted by Bulgaria within maximum six months," the European Union executive said in a statement.

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