China Eximbank pledges loan for Black Sea Motorway Project
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This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Bulgaria
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
In February 2014, Bulgaria’s Deputy Prime Minister of Economic Development Daniela Bobeva and the President of China Eximbank Li Ruogu met and discussed the possibility of China Eximbank funding the Shipka Tunnel Project and the Black Sea Motorway Project. The Shipka Tunnel Project involves the construction of a tunnel under the Shipka peak, which will be located 1 km to the west of the Shipka pass and 1 km to the east of Malusha peak. The northern part of the tunnel will be in Gabrovo District and the southern part will be in Stara Zagora District. It will have two traffic lanes, two guiding strips, and two sidewalks. The Black Sea Motorway Project involves the construction of a motorway that links the coastal cities of Varna and Burgas. It is also known as the Cherno More Motorway Project.
Number of official sources
1
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Bulgaria [Government Agency]