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Novinite: Bulgaria Green Economy Receives EU Funding EUR 2.8 B Boost
Source: Novinite.com
Danuta Hubner, EC comissioner for Regional Policy, announced Tuesday that by 2013 the European Union will invest EUR 2,8 B in Bulgaria's green economy. The whole of the EU will receive EUR 105 B for green projects over the same period.
Hubner stated that Bulgaria will get in excess of EUR 2,822 B by 2013 to invest in "green and nature-friendly projects," Bulgarian National Radio reported.
Bulgaria is entitled to European financing in 10 sectors, with almost half of the funding allotted to the water sector. Railway transport, waste management, energy efficiency and energy management will also be allotted "significant amounts."
EUR 100 M will be spent on the "direct protection" of the Bulgarian environment and for boosting biodiversity. In excess of EUR 66 M will be allotted to power generation from renewable sources.
The European Investment Bank also announced that it released EUR 455 M in loans to Bulgaria in 2008. EUR 105 M from the amount went for upgrading Sofia's transport, more specifically for the extension of the Sofia Underground lines. EUR 100 M went to the extension of the mobile phone network, and EUR 175 M to easing access of SMEs to long-term loans.