Sat, Jul 04 2009
World Bank will lend Bulgaria 88.2 million euro for network upgrades and energy efficiency measures at six water and sewerage companies in Bulgaria, for the construction of tap water filtration stations and eight dams, Regional Development and Public Works Deputy Minister Dimcho Mihalevski told a conference on infrastructure projects on March 11, quoted by Dnevnik daily.
The lender's board of directors is expected to give its final approval in June, Mihalevski added. The Cabinet would complement the loan with 21.4 million euro in budget financing, whilew ater and sewerage operators will add another 10.5 million euro in allocations. The upgrades are scheduled to be completed in 2011.
The loan has a maturity of 17 years and five years grace period.
Sandanski, Harmanli and Belogradchik will be equipped with tap water filtration stations already this year, while within a year such facilities will be sett up in the towns of Sliven, Doupnitsa, Lyubimets and Svilengrad.
A new water supply system will be built from the Kamchia river to the towns of Biala and Obzor, some 20km north of Nessebur resort on the Black Sea, will be built by May. By the summer of 2008, winter resorts Bansko and Dobrinishte will have new reservoirs.
Mobile operator Cosmote Romania agreed the acquisition of smaller local rival Zapp Mobile for 207 million euro on June 30, after months of negotiations.
The intergovernmental agreement for the Nabucco natural gas pipeline will be signed in Ankara on July 13, it emerged on July 3.
Bulgaria has low taxes, low labour costs and a lot of wind – a good combination for any company seeking to develop wind parks.
On June 5 2009, US ambassador Nancy McEldowney launched the first US-Bulgarian partnership dedicated to Information Technology and Innovation.
Bulgarian car parts manufacturers have been affected by the recession, but are optimistic about their future.