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Bulgaria's Sofia Strikes EUR 25 M EBRD Loan Deal
BULGARIA'S SOFIA STRIKES EUR 25 M EBRD LOAN DEAL
Date: 20/01/2011
Source: novinite.com
Bulgaria's Sofia Strikes EUR 25 M EBRD Loan Deal

The municipality of Bulgarian capital Sofia has reached an agreement for a EUR 25 M loan from the EBRD to boost public transportation.

This news was broken by Sofia mayor Yordanka Fandakova at Thursday's presentation of the 2010 municipal budget.

The loan will be extended in two installments at EUR 12.5 each. The first amount will be used for the payment of arrears to transport operators. The second will go for the finalization of the electronic system for charging public transport passengers.

The total Sofia budget for 2011 is over EUR 515 M, which is some EUR 10 M more than for 2010.

Fandakova stated that budget 2010 has been executed at 92% percent, and that only arrears for December have not been payed out at present.


Topic: Infrastructure



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Madara Horseman is an expressive bas-relief from 7th century, carved high out of the sheer rock, and depicting a horseman spearing a lion. It symbolizes greatness of the ruler and the power of his state. Europe's only rock relief dating from the early Middle Ages. Located 20 km from the town of Shoumen, NE Bulgaria.

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