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Bulgaria Seals New Danube Bridge Funding
Рубрика: General news Източник: Bulgaria's Finance Minister Milen Velchev (R) and EC chief representative to Sofia Dimitris Kourkoulas (L) signed Friday the financial memorandum on the construction of a new Danube bridge. Photo by Kameliya Atanasova (SNA) |
Bulgaria's Finance Minister Milen Velchev and the chief of EC Delegation to Sofia Dimitris Kurkulas signed Friday the financial memorandum on the construction of a new bridge over Danube river.
The memorandum, to be financed under the ISPA program, ensures free funding of EUR 70 M for the bridge's construction. The sum, granted by the European Commission, guarantees head-to-tail financing of the project due to be completed by 2008.
Romania and Bulgaria signed the agreement for the project construction in March 2000 but it never got off the ground because of insufficient funding.
The 2km Danube bridge, which is a key element of a European transport corridor connecting the German city of Dresden with Istanbul in Turkey, is designed to span over the river connecting Bulgaria's Vidin and Romania's Kalafat.
The project will cost a total of EUR 226 M and Bulgarian government has pledged to chip in more than EUR 60.7 M. Besides, it is also financed by loans and grants from the European Investment Bank, the French Development Agency and the German Credit Institution for Reconstruction and Development.
At the moment, the only bridge on the 610km Danube section of the Bulgarian-Romanian border, links Russe in Bulgaria and Giurgiu in Romania by road and rail.
The memorandum, to be financed under the ISPA program, ensures free funding of EUR 70 M for the bridge's construction. The sum, granted by the European Commission, guarantees head-to-tail financing of the project due to be completed by 2008.
Romania and Bulgaria signed the agreement for the project construction in March 2000 but it never got off the ground because of insufficient funding.
The 2km Danube bridge, which is a key element of a European transport corridor connecting the German city of Dresden with Istanbul in Turkey, is designed to span over the river connecting Bulgaria's Vidin and Romania's Kalafat.
The project will cost a total of EUR 226 M and Bulgarian government has pledged to chip in more than EUR 60.7 M. Besides, it is also financed by loans and grants from the European Investment Bank, the French Development Agency and the German Credit Institution for Reconstruction and Development.
At the moment, the only bridge on the 610km Danube section of the Bulgarian-Romanian border, links Russe in Bulgaria and Giurgiu in Romania by road and rail.