Japan Bank for International Development (JBIC) will extend a EUR 238mn loan to finance construction of container terminals in the two major Black Sea ports of Varna and Burgas, a note published on the website of the foreign ministry informs. The credit is the sixth and last one from Japan under the official programme to be completed in 2015. The project in Varna covers 42% of the funds for setting up a private-public partnership, in which the transport ministry and the sea city municipality would hold 35% each. The volume of cargo serviced at the port in Varna rose by 6% to 99,713 TEU (twenty-foot equivalent units) last year while the corresponding indicator in Burgas surged 17.9% to 30, 587 TEU.
Source: Intellinews-Bulgaria Today