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        TRANSIT ROADS V

        Signature(s)

        Amount
        € 380,000,000
        Countries
        Sector(s)
        Bulgaria : € 380,000,000
        Transport : € 380,000,000
        Signature date(s)
        27/08/2007 : € 380,000,000

        Summary sheet

        Release date
        21 June 2006
        Status
        Reference
        Signed | 27/08/2007
        20060087
        Project name
        Promoter - financial intermediary
        Transit Roads V project
        Republic of Bulgaria, through the Ministry of Finance and the Ministry of Regional Development and Public Works/Roads Executive Agency.
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        Up to EUR 380 million
        EUR 510 million
        Location
        Sector(s)
        Description
        Objectives

        The project comprises the rehabilitation and upgrading of about 1500 km of priority transit roads in Bulgaria, grouped in several lots. It is the Bank’s seventh road project in Bulgaria, and is an extension of the Bank’s earlier operations in the Bulgarian road sector.

        The rehabilitation and upgrading of priority transit roads in Bulgaria, totalling some 1500 km.

        Environmental aspects
        Procurement

        Bulgaria is harmonising its environmental legislation in line with environmental standards mandated by relevant EU Directives including, for certain sectors, the application of transition periods. All schemes benefiting from EIB support need to fully comply with the EU environmental directives, in particular with regard to environmental impact assessment (EIA) procedures (Directives 85/337/EEC and 97/11/EC). It will be verified during appraisal that nature conservation and similar requirements are properly addressed. For road rehabilitation and reconstruction without change of alignment, a formal EIA is generally not required. For reconstruction including change of alignment and new bypass roads to cities, an EIA is required according to Bulgarian law, in compliance with EU directives. These issues will be reviewed during appraisal.

        Procurement will take place in line with the Bank’s procedures.

        Comments

        Road Infrastructure

        Disclaimer

        Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
        They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

        Media enquiries

        Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

        Zero tolerance against fraud and corruption

        The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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