The cabinet approved yesterday a draft memorandum with the European Investment Bank (EIB) earmarking up to EUR 500mn financing to infrastructure projects in the country in 2007-2008. The document is prepared in accordance with the government 7-year plan for infrastructural development from 2007 to 2013. The Bank lending will support public-private initiatives and supplement projects financed by EU cohesion and structural grants. The press office of the government recalls that EIB has provided loans for a total of EUR 1.2bn to local undertakings over the past 15 years.
Source: IntelliNews - Bulgaria Today