The Council of Ministers has approved revised conditions for a state-guaranteed loan supporting the construction of the Bulgaria–Serbia gas interconnection.
The financing agreement, valued at nearly 50 million euros, was originally signed on January 25, 2023, between gas transmission operator Bulgartransgaz and ING Group. Due to improved market conditions, Bulgaria’s anticipated entry into the Eurozone, and Bulgartransgaz’s solid financial position, the loan’s interest margin has been reduced—from one-month EURIBOR plus 1.23% to one-month EURIBOR plus 0.5%. This adjustment is expected to lower total interest costs by around 455,000 euros over the life of the loan.
The Bulgarian section of the gas interconnection is designated as a Project of Common Interest (PCI) under EU Regulation 347/2013. It is also identified as a priority project by the CESEC High-Level Group and recognized as a project of interest by the Energy Community.