Fri, May 25 2012

Infrastructure projects in Varna lack financing

Thu, Jul 30 2009 13:16 CET

byNick Iliev

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Infrastructure projects in Varna lack financing

Photo: Tsvetelina Nikolaeva

Projects poised to build water sewerage networks in the Varna boroughs of Vinitsa and Galata, as well as the overhaul works planned for Devnya and 3ti Mart streets in Varna, which are earmarked for expansion and renovation, are likely to be scrapped altogether, Morski Dnevnik newspaper reported on July 30 2009.

According to Varna's deputy mayor, Borislav Borissov, the reason why the projects were facing the grim prospect was that the state has failed to allocate the required subsidies designated to cover 10 per cent of the total cost of the construction works.

For the realisation of the Devnya project for instance, the Varna city hall has received 10 million leva from the state budget, or one million short of the sum required to meet the 10 per cent obligation. Subsequently, proceedings have been put on hold.

"I am not very optimistic about this, neither am I optimistic about the other projects poised for reconstruction that are currently applying for European financial assistance, such as 3ti Mart street," Borissov said.

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