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2009-10-02 00:00:00
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The Bulgarian Ministry of Regional Development and Public Works will ask the World Bank and the European Investment Bank (EIB) for EUR 2 bn loans.
The Regional Minsiter, Rosen Plevneliev, announced this at a session of the Parliament Committee on Regional Development.
EUR 1 bn from the EIB will be used for co-financing of European operational programs, and the negotiations for the money have already began, Plevneliev said. The talks about the other EUR 1 bn will begin in November or December, he added.
The Bulgarian Regional Ministry has not yet chosen certain projects, which will be funded by the second loan.
Plevneliev has also announced that 10% of the building firms in the country are likely to go bankrupt in the next few months over the global financial crisis. The building industry is in dramatic situation, with between 500 and 600 of a total 5500 construction companies in serious financial distress, he explained.
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