Bulgaria to scrap repairs of 110km of roads
Bulgaria has decided to scrap repairs of 110km of roads as part of a programme financed by the World Bank envisaging the upgrade of 450km of roads.
The decision was taken by the Cabinet on December 8 2010 after approving a letter to be sent to the World Bank about amending the loan agreement.
The state is asking that the loan agreement, which expires on June 30 2011, should be extended by a further two years.
Bulgaria will also request the World Bank to drop the repairs of three lots, the upgrade of which has not been started yet.
The proposal, concerning road stretches spanning a combined 110km near the towns of Karlovo, Shoumen and Tran, also stipulates for the sections removal to be on account of the project's government co-financing of 54 million euro.
The remaining 340km of roads will be repaired with the help of the 90 million euro from the World Bank, of which just 16 per cent had been absorbed as at October 2010.
The loan's restructuring is intended to ensure sufficient funds to cover co-financing of road projects backed by the European Union and to allow the country to keep its budget deficit below three per cent, according to the Government statement.
Text: sofiaecho.com
Photo: Nadezhda Chipeva
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(09.12.2010)