China to Loan More Than €1.5 billion to Bulgaria

During the China - Central and Eastern Europe meeting in Sofia, China and Bulgaria signed 10 agreements, the most notable of which was a loan for €1.5 billion to the Bulgarian Development Bank.

Another agreement was to lend $95 million for Bulgaria’s navy, with which 6 ships are supposed to be built. The Prime Ministers of China and Bulgaria, Li Keqiang and Boyko Borisov, met and conducted a joint press conference.

Borisov stated: “The important message of the premier Li Keqiang is that 16+1 format does not split Europe apart. It isn’t aimed against the other states. On the contrary, where there the cohesion policies can’t cut it, that where they [China] will help.”

Borisov also suggested that Bulgaria and China can cooperate on the resurrected Belene NPP project. He also added: “Bulgaria and the Bulgarian people love the Chinese people. We have the rare chance, with pragmatism and keeping up with the European rules, to develop our industrial, economic, and business relations.”

Li Keqiang thanked Boyko Borisov for the invitation and said Bulgaria was the first country of his European tour. The Chinese PM also received the flag of the Bulgarian mountaineer Boyan Petrov, who disappeared in Tibet earlier this year, from his wife and invited her to visit China where the flag will be put in a museum.

Alex Dimchev

Alex Dimchev is a writer, editor, and weapons master for

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