BDZ Paid Part of its Debt to the State

Holding BDZ EAD extinguishes its liabilities to the state budget, amounting to BGN 42 million. The funds are secured through a non-interest-bearing loan as a result of the notification received by the European Commission.

The company's liabilities to the budget are formed as a result of payments made after activated state guarantees for repayment of World Bank loans received by the World Bank under the 1995 Restructuring Project in Bulgaria. The repayment of these liabilities will save on penalties, amounting to BGN 2.7 million on an annual basis.

In recent months BDZ has managed to repay early part of its obligations to other creditors.

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