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Over 2,000 km of roads to be renovated in 2008

Date: 27.10.2007

The World Bank and the EIB will collectively provide half a billion euro for the reconstruction of some 2,000 km of roads in Bulgaria in 2008.

The local government will extend co-financing to the amount of EUR 350 million.

The relevant loan agreements were Thursday approved by the government and will be submitted for ratification by parliament.

One of the projects will ensure the renovation of 450 km of roads. It will receive EUR 90 million from the World Bank and EUR 24 million in local -co financing.

The government also extends guarantees for the loan financing provided to a further two projects.

One of them involves a EUR 50 million credit from the World Bank for the FLAG fund, which extends resources to municipalities that need to secure co-financing for the absorption of EU funds.

The other EUR 35 million credit is furnished by Nordic Investment Bank for the deployment of the voice, data and video infrastructure of the interior ministry which should be compatible with the of the other EU member states.

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