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ECU 40 million loan agreement signed by Republic of Bulgaria and European Bank for Reconstruction and Development
A loan agreement in the amount of ECU 40 million for construction work in the Maritza East II power plant in Bulgaria was signed yesterday by the Bulgarian Finance Minister, Ivan Kostov, and Mario Sarcinelli, Vice President of the European Bank for Reconstruction and Development.
The European Bank's loan will help finance the completion of Unit No.8 of the power plant and the retrofitting of sulphur dioxide removal equipment to comply with environmental legislation.
The total cost of the project is estimated at ECU 114 million, to be jointly financed by the European Bank, the European Investment Bank, and the National Electric Company of Bulgaria.
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