Brussels, 08/10/2013 (Agence Europe) - On Tuesday 8 October, the European Investment Bank (EIB) and the Municipality of Sofia signed a new loan agreement of €50 million to support the implementation of the Bulgarian capital city's master plan. The loan will finance a transport infrastructure programme including construction and rehabilitation works in Sofia during the period 2013-2016.
The EIB loan will support the construction, reconstruction, expansion and rehabilitation of 22 small-sized road schemes in Sofia, totalling some 56 km. The project will help bring the transport network up to current safety standards and alleviate key bottlenecks, enhancing traffic flows. It also includes the modernisation of 7.6 km of tram tracks and catenaries located on the road sections covered by this new loan. Mihai Tanasescu, EIB Vice-President responsible for lending operations in Bulgaria, commented, “EIB funds will contribute to improving the quality of life of the citizens of Sofia in terms of upgrading the public road network and related transport infrastructure by increasing its capacity, fluidity and safety. This will also have a substantial positive impact on the city's environment by reducing pollution”. (OL/transl.fl)