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EBRD may invest EUR 40 M in Bulgaria's Black Sea airports

Date: 25.11.2005

The European Bank for Reconstruction and Development plans to invest up to EUR 40 M in Bulgaria's two Black Sea airports once courts clear controversies over their concessions.

This was announced by Olivier Descamps, Director for Southern and Eastern Europe and the Caucasus, who is paying a visit to Bulgaria.

The bank will concentrate primarily on projects concerning the infrastructure and the energy sector.

EBRD and other commercial banks are to ink a deal for the launch of a EUR 157 M syndicated loan for the upgrade of thermal power plant Maritsa-Iztok 1. The cost of the project is EUR 960 M.

EBRD plans participation in the electricity distribution companies, railway transport and the national electricity transmission company.

The bank's new two-year strategy for Bulgaria is expected to be approved next week.

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