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EIB to help out Bulgaria with EU funds utilization

Date: 22.10.2005

EIB Vice President Wolfgang Roth (R) has assured Bulgarian PM Sergey Stanishev that the Bank supports the Bulgarian government in its efforts to achieve full-fledged EU membership for the country in 2007.

The European Investment Bank (EIB) is ready to help Bulgaria with the utilization of EU structural funds after 2007.

EIB Vice President Wolfgang Roth has assured Prime Minister Sergey Stanishev that the Bank supports the Bulgarian government in its efforts to achieve full-fledged EU membership for the country in 2007, as scheduled.

With the accession into the EU, Bulgaria will become a shareholder in the financial institution.

Talks at the meeting flagged issues concerning the cooperation and the programs, financed by the international institution in the country.

The EIB has granted nearly EUR 1 B to Bulgaria since 1992. The Bank has participated in co-financing of major transport and infrastructure projects executed under EU's ISPA program. The European financial institution has provided EUR 70 M EUR for the construction of the second bridge on the Danube River, at Vidin - Kalafat.

The projects for the reconstruction of the Sofia Airport, the trans-European road network passing by Bulgaria, the building of three waster-water purifying plants in Haskovo, Stara Zagora and Dimitrovgrad are being made possible with the financial assistance of EIB.

The EIB is the financial institution of the European Union established with the Treaty in Rome. The goal of the EIB is to contribute for the economic development of developing regions, the improvement of transport and communication infrastructure, development of trans-European networks, etc.

At another meeting earlier on Monday with Finance Minister Plamen Oresharski, Wolfgang Roth declared his institution's readiness to partake in other projects here.

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