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Bulgaria to borrow EUR 470 M for road repairs

Date: 30.04.2007

Bulgaria's cabinet will ask the Parliament to give green light for talks with the European Investment Bank and the World Bank to contract EUR 470 M from the two lenders for road repair projects, the government's press service said.

The cabinet plans to borrow EUR 90 M from the World Bank for a project to repair 450 kilometers of existing roads.

The total cost of the project is EUR 120 M, with the rest of the funds to come from the state budget.

The EUR 380 M loan from the European Investment Bank would be used to repair another 1,535 kilometers of its road network.

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