Банкеръ Weekly



Bulgaria can rely on EUR188.5MN for construction of water treatment stations and waste dumps under the ISPA programme of the European Union. EUR88,252,057 of this amount will be granted, and the rest will be provided as co-financing by the republican budget. According to the ISPA rules, Brussels finances up to 75% of the costs of projects in the field of infrastructure and environment. A memorandum is signed by the Commission and the respective country that uses the funds for each approved project. Six documents were already signed on February 10 by the Minister of Finance Milen Velchev and the EU Ambassador to Bulgaria Dimitris Kourkoulas.Four of these projects refer to the purification of waste water in the municipalities of Shoumen, Varna, Balchik, and Smolyan. The European Commission is also going to launch money for technical support of the project for improving the water cycle in Sofia. ISPA financing is also provided for the construction of waste dump in Kurdzhali.The memo documents stipulate that the Shoumen project aims at keeping the two local rivers from pollution. The whole project in the town costs EUR30,315,000, of which EUR22,597,500 paid by ISPA.The preservation of the Varna lake and a substitution of the main drainage collector in Asparuhovo will cost EUR25,616,841. The EU will provide EUR19,074,000 of this amount. The ecological subsidy for the town of Balchik will reach EUR21,899,225, of which EUR16,191,919 will come from the Commission.In turn, the municipality of Smolyan will be able to spend EUR24,621,021, of which EUR18,353,266 provided by the ISPA program.The technical assistance from the Sofia municipality which will hire consultants to make preliminary research of the project for water sector modernisation amounts to EUR1,500,000. The EU will launch EUR1,125,000.The Kurdzhali regional waste management centre will take EUR14,547,162, including EUR10,910,372 from ISPA. Seven neighbour municipalities are going to build transfer stations and the old dumps there will be closed.

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