European Investment Bank: Lending in Bulgaria Up by 126% in 2014 Y/Y
Friday, 20 March 2015
The European Investment Bank's (EIB) lending in Bulgaria has increased by 126 per cent in 2014 up to 610 million euro, compared to 270 million euro in the previous year, EIB Vice-President Laszlo Baranyay said during a news conference here on Thursday, quoted by the EIB in a press release.
Baranyay described 2014 as an exceptional year for the EIB in Bulgaria. "Our aim was to support priority projects receiving grants from the European Union, thus increasing Bulgaria's absorption of EU funds. Looking ahead, we will continue to finance projects that improve the citizens' quality of life, foster growth and job creation and increase the competitiveness of the Bulgarian economy," the Bank's Vice-President said.
In 2014, the EIB granted a loan of 500 million euro to co-finance priority projects backed by EU funds in Bulgaria over the 2014-2020 programming period. The EIB loan will fund the national co-financing contributions under the "Transport" (including urban transport) and "Environment" Operational Programmes, supporting projects with a total investment cost of more than 4 billion euro, the press release said.