The municipality will use the funds to finance projects approved under the EU Operational Programmes, as well as to refinance an existing debt.

UniCredit Bulbank is granting a loan for BGN 7 million to Pazardzhik Municipality for a term of 60 months following a procedure pursuant to the Public Procurement Act. The loan will be used to finance projects approved under the EU Operational Programmes, as well as to refinance an existing debt of the Municipality.

The funds will be used for bridge financing investment expenses of the approved projects. When the project is successfully finalized, Pazardzhik Municipality will receive the grant pursuant to the conditions in the Grant Agreement, signed with the ruling body of the respective programme. This funding will ease and speed up the utilization of the funds meant for our country by the European programmes.

The loan agreement between UniCredit Bulbank and Pazardzhik Municipality was signed in the municipal building at the end of last week.

A total of 5 banks have bought documents for participation in the public procurement.

On 17 October 2012 with a decision of the mayor of Pazardzhik Municipality, UniCredit Bulbank was ranked 1st and chosen to be the contractor in the public procurement.

With the current financing UniCredit Bulbank has confirmed its support for Pazardzhik Municipality and the development in investments in it, as well as its intention to have a long partnership with the institution.

UniCredit Bulbank has been a partner with Pazardzhik Municipality since 25 October 2010 when the bank granted the municipality a loan in the amount of BGN 3 million with a similar purpose.

More information for media:

UniCredit Bulbank, Identity & Communications Department

Viktoria Blajeva, Phone: + 359 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch

Ekaterina Ancheva, Phone: + 359 2 9264 963, flbufsjob/bodifwbAvojdsfejuhspvq/ch

Magdalena Ivanova, Phone: + 359 2 9232 528, nbhebmfob/jwbopwbAvojdsfejuhspvq/ch