Bulgaria will receive 90 million euro from the World Bank (WB) under a road infrastructure renovation project.

The project aims at aiding Bulgaria reduce its transport expenditure through improved condition and quality of its road network in the first year of its EU membership.

A total of 450km of first, second and third class roads will be renovated as part of the project, investor.bg reported.

It will also aid the national road infrastructure fund through investing in technologies, road facilities and in procedures, which will increase resources utilisation effectiveness.

The project is expected to support various plans aimed at traffic accident reduction.

WB said that the Bulgarian road network is of major importance for the trade within EU and for the country's integration within the European market.

The project's duration is 17 years and it has a five-year gratis period.