>@EIB/To be defined

The European Investment Bank (EIB) is lending EUR 500 million to the Republic of Bulgaria to co-finance priority projects supported by EU funds during the 2014 – 2020 Programming Period. The EIB loan will cover the national co-financing contributions under Operational Programmes in the areas of transport (including urban transport) and the environment.

Mr László Baranyay, EIB Vice-President commented: “The EIB loan will co-finance priority projects with a total investment amount of EUR 4.3 billion in Bulgaria. This will accelerate the absorption of EU grants for the benefit of the national economy, strengthening its competitiveness and fostering economic growth and employment. The EIB lending is complementary to technical assistance provided by the EIB with a view to receiving EU grants”.

The EIB financing will be provided in the form of a Structural Programme Loan. Together with larger projects the EIB loan can also finance smaller schemes which, due to their limited size, would not qualify for direct EIB financing. The EIB loan offers long-term co-financing on highly attractive terms for projects implemented under the EU programmes across Bulgaria, pre-financing EU grants where needed.

This loan is a continuation of the successful financial cooperation between the EIB and Bulgaria. In 2007 the Bank signed a similar loan of EUR 700 million for EU fund co-financing. About 80% of the envelope has been allocated.