Mayor Fandakova Talked to Werner Hoyer – President of the European Investment Bank - Sofia Municipality - Портал на Столичната Община

Back Mayor Fandakova Talked to Werner Hoyer – President of the European Investment Bank

Published 9/18/17

European Institutions’ trust in important for the successful development and implementation of the projects for the city.

Mayor Yordanka Fandakova talked to Werner Hoyer – President of the European Investment Bank (EIB), who is visiting Sofia for the opening of an office of the financial institution in Bulgaria’s capital city.

"I am impressed how Sofia has changed in recent years", said Werner Hoyer. According to him, a number of significant projects have been implemented in Sofia. Of particular importance was the construction of the metro, continued Mr. Hoyer.

Mayor Fandakova said that the European Investment Bank was a strategic partner of the Sofia Municipality in projects, helping develop Sofia as a green and innovative city.

Ecology is among the major priorities in all sectors and projects that we defend.
European Institutions’ trust in important for the successful development and implementation of the projects for the city

The Sofia Municipality observes strict financial discipline. The international rating agency "Standard and Poor’s" S&P GlobalRatings confirmed the long-term credit rating of Sofia at BB+, outlook positive.

A number of significant projects have been implemented in Sofia in recent years, with the financial support by the EIB. Over EUR 251 million have been invested in the second metro line and the extension of the first one – “Mladost – Tsarigradsko Shose”, the first and second phases of the Household Waste Processing Plant, two-level road junctions, the investment programme for the rehabilitation of streets and boulevards, the supply of new urban transport busses.

At present the Capital Municipality is negotiating with the European Investment Bank, the funding of the third metro line, as well as the third phase of the Waste Processing Plant, which will involve the construction of an RDF furl system at Toplofikatsia Sofia.

We are now expecting EIB’s permission to use the balance of the funding, allocated for purchasing buses, at the total amount of BGN 8.6 million, for procuring 22 new buses, using natural gas.