Bulgaria To Pay EUR 400 M to Russia for Belene By End of 2016

Bulgaria will pay EUR 400 M, or the main part of the debt ruled by the Paris Arbitration Court for the manufactured equipment for Belene by the end of the year, announced Energy Minister Temenuzhka Petkova, cited by BTA.

At a working meeting of the intergovernmental commission of Russia and Bulgaria on Friday, it was decided that the debt will be paid in tranches.

The Bulgarian Energy Holding and the National Electric Company, however, do not currently have the funds to cover the debt, added Petkova. According to her, after the main part of the debt is paid, a new agreement will be sought for the remaining two instalments.

Besides, Bulgaria has discovered a technical mistake in the calculation of the interest by the Arbitration court. The interest was set at EUR 82 M but after the objection the sum will go down, reckoned Petkova. The decision of the Arbitration Court is expected.

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