World Bank approves $120 Million road rehabilitation loan to Bulgaria
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The World Bank executive board has approved the allocation of a 90 million euro (US $120 million) loan for the rehabilitation of Bulgaria's dilapidated roads, the Government announced on Wednesday.Targeting the renovation of some 450 kilometers (280 miles) of roads class I, II, and III, the project will allow the improvement of the managerial and technical inventory of the State Transport Infrastructure Fund. It will also contribute the reduction of the country’s road infrastructural expenses, during its first year of its EU membership.The transport infrastructure is of critical importance for the further development of the trade relationships with the European Union as well as for the integration of the country's remote regions within the European market. Bulgaria's prime roads’ rehabilitation is also financed under the Transit Roads program. |
