13th June 2008
The European Investment Bank (EIB) is set to co-finance Bulgaria's EU projects up to a value of 700 million euros (£552 million), it has emerged.

People looking to buy investment property in Bulgaria could be pleased by this news as the funds will play a part in strengthening the economy.

According to the Sophia Echo, the nation's government will shortly table for ratification in parliament a loan agreement for the period 2007 to 2013.

It adds that the assistance would be in the form of a structured programmatic loan.

The news provider asserts that the bulk of the loan would be used to finance projects under the Transport and Environment operational programmes.

It concludes that the loan carries a "seven-year" grace period and would be disbursed in a maximum of 20 tranches, the smallest of which would be 30 million euros.

Since 1990, the EIB has lent a total of 1.24 billon euros to Bulgaria to finance investment within the country and help it meet EU accession standard.

How are you going to finance your overseas property? If you want a guide on how to do this speak to the advisors who will help prepare you for the process of gaining international finance.

News From Bulgaria Brought to you by the SimpliGroup – Experts in the Bulgarian Overseas Finance and Property Market



<< Back to News