The cabinet announced that EIB will extend a EUR 700mn global structured credit to the country to co-finance operational programmes for utilisation of EU funds. The maturity of the loan is 25 years with a 7-year grace period. The credit will be disbursed in up to 20 tranches to priority sectors such as transport and environment protection. EIB has invested some EUR 1.2bn in the country over the past 15 years. As recalled, the EU budget has earmarked a total of EUR 7bn in non-reimbursable post-accession funds for Bulgaria until 2013 under the following operational programmes: Transport, Regional Development, Environment, Competitiveness, Human Capital Development, Administrative Capacity and Technical Assistance. The country’s operation programme for competitiveness was signed last month, two other operational programmes for Human Capital Development and Administrative Capacity are already approved and the country expects to sign the remaining four operational programmes by the end of the year.