Банкеръ Weekly

Briefs

ALMOST BGN7BN IS NECESSARY FOR MODERNIZATION OF THE WATER AND SEWAGE NETWORK

The modernization and expansion of the water supply and sewage network in Bulgaria will cost BGN6.788BN according to the strategy of the Ministry of Regional Development and Public Works (MRDUP), presented by Minister Valentin Tserovsky. Although the country's water resources are sufficient, some 10-12% of the population lives in regions where the water supply is restricted, he said. According to the MRDUP, 20% of the sewage networks should be replaced. Mr. Tserovsky pointed out four main targets - to attract private capital in the sector and improve the quality of the service by complying with the European standards and retaining the structure of the water and sewage companies. They will be managed by joint ventures, let on concession, or contracts for services will be closed. A state investment fund and an executive agency (for implementing the policy in the branch) will be set up with the ministry. In September the strategy will be moved for approval to the Council of Ministers, and will be afterwards voted in Parliament, Mr. Tserovsky said. He hopes the so-called water regulator - the agency that supervises the sector - would begin operations next year.

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