Bulgaria: Inauguration of the Sofia Waste Treatment Plant co-financed by the EIB
14 September 2015
Today a new mechanical-biological treatment plant with a capacity of 410 000 tonnes of mixed waste per year was inaugurated in Sofia. The European Investment Bank (EIB) has provided co-financing for this priority project amounting to EUR 33 million.
EIB Vice-President László Baranyay, who attended the opening ceremony together with Bulgaria’s Prime Minister Boyko Borissov, Minister of Environment and Water Ivelina Vassileva and the Mayor of Sofia Yordanka Fandakova, commented: “I very much welcome the fact that EIB funds and technical expertise have contributed to the implementation of the Sofia Waste Treatment Plant. This modern facility represents a major step towards improving the environment and the health of the citizens of Sofia and will generate significant efficiency gains for the city’s waste management services. It will also enable Bulgaria to meet its international environmental and climate change obligations”.
The new waste treatment facilities include a sanitary landfill, a mechanical-biological treatment plant, and bio-waste and green waste composting plants, located at two different sites on the outskirts of the Bulgarian capital Sofia. The treatment plant will produce refuse-derived fuel that can be used in cement kilns and by power plants such as the future Topoflikacia Combined Heat and Power Plant.
The EIB has supported the preparation of the project through JASPERS (Joint Assistance to Support Projects in European Regions) in order to secure EU grants. At a later stage, the EIB also provided technical advisory services during the implementation phase of this project.
The EIB loan supporting this project was granted to the City of Sofia, with which the EU bank has enjoyed very fruitful cooperation. So far the EIB has signed loans with the Municipality of Sofia amounting to some EUR 271 million to finance urban projects, including the Sofia Metro, the renewal of the city’s transport fleet, and social and environmental infrastructure.
The EIB and Borealis have successfully closed a benchmark financing agreement that supports the Borealis research, development and innovation (RDI) programme in the circular economy sphere. The EIB will provide a €250 million loan supporting Borealis’ multi-year investment programme in the area of plastics circularity, in line with its objectives to support innovation, climate action and sustainability.
Today, the City Climate Finance Gap Fund (“The Gap Fund”) was launched jointly by ministers and directors of the Governments of Germany and Luxembourg together with the World Bank, EIB and Global Covenant of Mayors. It paves the way for low-carbon, resilient and livable cities in developing and emerging economies by unlocking infrastructure investment at scale.
On Wednesday 16 September, in the presence of Aziz Akhannouch, the Moroccan Minister of Agriculture, Fisheries, Rural Development, Water and Forests, the EIB and CAM, represented respectively by Emma Navarro, Vice-President, and Tariq Sijilmassi, Chairman of the Management Board, signed a €200 million loan agreement to boost support for Moroccan businesses operating in the agriculture and bioeconomy sector with a particular focus on sustainable development.