The Government proposed to the National Assembly to ratify the amendments to the agreement between Bulgaria and EIB for Danube Bridge 2
01.02.2012
The Government approved the amendments to both financial contracts with the European Investment Bank for the construction of the bridge over the Danube river between the towns of Vidin and Calafat, and proposed to the National Assembly to ratify the amendments. Agreements with EIB on Danube Bridge 2 construction is extended until end of 2012.
EIB provided 70 million euro in co-financing of design and construction, of which 29.5 million euro has not been withdrawn.
The delay in the utilisation of the loan is due to the complexity of the project and results from the fact that the funding is provided by several institutions with different requirements.
The amendments also settle matters relating to the Bank's requirements about the ownership of the bridge assets under a Bulgarian-Romanian intergovernmental agreement of 2000.
Extending the term of the loan will asure achievement of the main objective – creating a direct link between Bulgaria and European Transport networks and increasing the passenger and cargo flows to and from European Union countries. |