Political geography

Bulgaria's Govt to Invest over BGN 35 in Sports Halls

Bulgaria will invest over BGN 35 M in 15 sports halls by end-2014, according to Regional Development Minister Desislava Terzieva.

Speaking Saturday in the western town of Botevgrad, Terzieva made clear that a total of BGN 7.8 M would be allocated for the construction and repair of children's playgrounds and sports grounds, according to reports of mediapool.bg.

Bulgaria Shying Away from Sanctions Against Russia

It is not in Bulgaria's interest to stand firmly behind EU sanctions against Russia, according to the Foreign Minister Kristian Vigenin.

"At the moment Bulgaria has no alternative for deliveries of gas. Whatever stance we take from here on (regarding Russia), we must keep this in mind", Vigenin told Darik Radio.

IMF disburses loan tranche to Cyprus


The International Monetary Fund said on Friday it had reviewed Cyprus’s economy under a bailout program and approved a loan disbursement for about $115 million.

The international lender said the disbursement brings total lending to date under the IMF’s $1.4 billion program with Cyprus to about $459 million.

Bulgaria's NEK Also Indebted to Varna Thermal Station

Varna's Thermal Power Station is still waiting for BGN 35.4 M of payments by Bulgarian State Electricity Company (NEK).

Representatives of the company managing the power station, which is part of Czech energy group CEZ (one of Bulgaria's three power distributors), announced that NEK has not paid its debts to their subsidiaries for months, Dnevnik.bg has reported.

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