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Overview

China Eximbank pledges loan for Shipka Tunnel Project

Commitment Year•2014Country of Activity•BulgariaDirect Recipient Country of Incorporation•BulgariaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Feb 1, 2014

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

  • Government of Bulgaria

Loan desecription

China Eximbank pledges loan for Shipka Tunnel Project

Interest type•Unknown

Narrative

Full Description

Project narrative

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.