EBRD Pledges Support to Local Bulgarian Authorities

The European Bank for Reconstruction and Development will lend nearly USD88 million to Bulgaria’s fund for local self-government bodies. The two-tranche credit is due to be signed in early December. The fund supports municipal infrastructure projects and partly finances the drafting and implementation of European Union-backed projects. (“EBRD gives green light to EUR 70 mln loan for FLAG Fund” - Focus News Agency, Nov. 11, 2008)