CEZ Bulgaria, EBRD Sign EUR 116 M Loan Agreement

CEZ Razpredelenie Bulgaria AD and the European Bank for Reconstruction and Development (EBRD) have signed an agreement on a EUR 116 M loan to the energy distribution venture.

The loan is intended for the financing of investments of the company in the period 2016-2017 and will be paid back over a period of 7 years.

The investment plan for the period for utilisation of the funds is ambitious and amounts to a total of BGN 210 M.

"We are satisfied that we finalised the negotiations and signed the agreement with EBRD. The funds will be used for investments in assets in regions of the territory serviced by CEZ - Zapadna Balgariya (CEZ- Western Bulgaria), for the purchase of energy facilities constructed by third parties, for increasing the quality and reducing losses in the energy supply," stated Karel Kral, regional manager of CEZ for Bulgaria.