Банкеръ Weekly

Briefs

STATE TO GUARANTEE CREDITS AMOUNTING TO USD370MN

In 2001 the state is prepared to guarantee external credits amounting to totally USD370MN, said Plamen Oresharsky, Vice Minister of Finance after the Council of Ministers session on November 23. According to him the list of priority projects to be financed with credits guaranteed by the state is much shorter, compared to that approved last year. Among them are the projects for reconstruction and electrification of the Plovdiv - Svilengrad railway (second tranche of EUR70MN), Danube bridge II construction (EUR50MN), Sofia subway project (USD120MN), as well as the project for construction of waste recycling plant near Sofia (about EUR50MN). Somewhat more moderate are the projects for the Lom port reconstruction (approx. EUR20MN), construction of electro distribution line from Bulgaria to Macedonia (about EUR25MN) and the establishment of real estate cadastre (about USD30MN)


Most credits will be launched by the European Investment Bank. Another part of the projects will be financed by the EU pre-accesssion funds ISPA. Sofia subway project will be financed by the Japanese International Cooperation Fund, and the Bulgaria - Macedonia electro distribution line project - by the Corean Economic Cooperation Fund. The World Bank has made a committment only for the real estate cadastre project.


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