GERB Leaders Mortgage Own Properties to Fund Election Campaign

The GERB Chair, Tsvetan Tsvetanov, stated Friday, the party will be able to send at least 5 individuals to the European Parliament.

The GERB party leaders announced Friday that they were going to mortgage their own properties in order to fund the party's pre-election campaign.

Because the Citizens for European Development of Bulgaria (GERB) party has no right to receive State subsidy, the Party's Chair, Tsvetan Tsvetanov, and its informal leader and Mayor of Sofia, Boyko Borisov, announced that they would use the mortgage funds as a collateral to obtain a bank loan.

GERB hopes to receive BGN 440,000, while after winning the elections, the repayment of the loan would be partially funded by the State subsidy, which the party will then have the right to. GERB also counts on private donations.

When asked about the name of the bank to grant the loan, Tsvetanov said it was "a Bulgarian bank, with the most extensive network in the country and long-running traditions," adding GERB will be able to send at least 5 individuals to the European Parliament.

 

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