The cabinet has submitted to the parliament a bill for ratification of a EUR 700mn loan from the European Investment Bank (EIB). The funds are expected to cover the national contribution to the transport and environment operational programmes but may co-finance other operational programmes as well, including the Rural Development Programme. The loan should be repaid in 25 years with a grace period of 7 years. The loan will be utilised in 20 tranches of at least EUR 30mn each. Finance minister Plamen Oresharski and EIB vice president Matthias Kollatz-Ahnen signed the credit agreement in December last year.
Source: Intellinews-Bulgaria Today