Transit Roads V project

Promoter – Financial Intermediary

Republic of Bulgaria, through the Ministry of Finance and the Ministry of Regional Development and Public Works/Roads Executive Agency.

Location

• Bulgaria

Description

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.

Objectives

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

Comments

Road Infrastructure

Sector(s)

• Transport

Proposed EIB finance (Approximate amount)

Up to EUR 380 million

Total cost (Approximate amount)

EUR 510 million

Environmental aspects

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

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

Status

Signed - 27/08/2007