Bulgaria

The development objective of the Road Infrastructure Rehabilitation Project will be to assist Bulgaria to reduce road transport costs by improving the condition and... Show More + quality of its roads network during the first years of European Union (EU) accession. The major modifications being are: (i) changes to project components by expanding the scope of 'component two: institutional development' and focusing it on the absorption of EU funds, and reducing the scope of 'component one: rehabilitation of selected roads' to reflect the reduced budget for the project which impacts the project's financing plan; (ii) extending the loan closing date by 24 months to enable full completion of the expanded component two and of all ongoing road rehabilitation works under component one; (iii) reallocation of loan proceeds between disbursement categories to reflect the changes to project components, and increase the percentage of expenditures to be financed from loan proceeds; and (iv) modifications of outcome and impact indicators to reflect the changes. Show Less -