Mon, May 21 2012

US TO INVEST $200M IN BULGARIAN MUNICIPALITIES

Wed, Dec 12 2007 16:49 CET

byElitsa Savova

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The US will invest $200 million ( 136.14 million euro) in Bulgarian municipalities where US military bases will be located.

One quarter of the sum, $50 million ( 34 million euro), would be accounted for NATO projects, American Chamber of Commerce in Bulgaria's edition Intellinews said.

The other part of the money will be used for infrastructure modernisation, such as road repair and communication, water management and electricity installation projects.

In November 2007, Economy and Energy Minister Petar Dimitrov said that the total value of offset investment deals would be 158 million euro. "These are agreed under procurement contracts for modernisation of the army, aimed at promoting export opportunities and development of hi-tech industries," Intellinews said.

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