EIB TO FUND ENERGY EFFECTIVENESS AND PROJECTS UNDER JUNCKER PLAN THIS YEAR

n 2014 the European Investment Bank /EIB/ granted EUR 610 million to Bulgaria, or around 123 percent more than in 2013, said Mr. László Baranyay, vice-president of the institution. Over the 1992 – 2014 period the bank gave loans to projects, amounting to EUR 4.3 billion.

The EIB priorities through the current year include co-funding under the European Fund for Strategic Investments, also known as the Juncker plan and the energy effectiveness projects. Among the big energy projects, the bank shows interest in the funding of the interconnector between Bulgaria and Greece. There are also projects in the area of ecology, such as waste management and water purification that are also among the subjects of interest. One of the forthcoming joint projects, already signed in the beginning of the year is for the construction of a system for traffic management in public transport. In 2014 the EIB granted EUR 40 million of co-funding to Sofia Municipality for the purchase of new tramways and busses under the Environment OP, Mr. Baranyay commented and added:

The activity of the EIB in 2014 was aimed mainly at support for small and medium-sized enterprises, for which around 49 percent of the money is spared. The other main directions are transport and telecommunications, water supply, sewerage systems and waste treatment, also industry, services and agriculture. Deputy Minister of Finances Frezi Bekir assessed highly the partnership between the government and the bank:

“The EIB is an important partner and has a significant role for the grow of investments in the private sector of Bulgaria and the EU member-states. The Bulgarian government highly appreciates this support, contributing to investments and the country’s economic growth. The EIB is a major partner in the provision of investment planning and the implementation of the major infrastructure projects in the spheres of energy, transport and ecology.”

The repair of 53.6 km of the Plovdiv – Septemvri railroad, Plovdiv – Sofia and the second stage of Sofia’s subway construction were among the big projects, funded by the EIB in 2014. The bank also granted EUR 110 million in partnership with three financial institutions for small and medium-sized companies that had found it hard to receive funding of their projects from commercial banks.