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The Municipality of Yambol will draw a BGN 4 million low-interest loan from the "Fund for Sustainable Cities", the Municipal Council decided at its meeting today.

The term for its repayment is up to 12 years.

The proposal was approved with 23 votes in favor, four against and six abstentions.

The funds are for additional financing of started and upcoming renovations according to European projects of four buildings of cultural institutions in the city - the "George Papazov" Art Gallery, the "Georgi Bratanov" Youth Cultural Center, the Regional History Museum and the Museum of Battle Glory in the city.

The Municipality of Ruse will draw a maximum loan of BGN 12 million for major street repairs

The projects are under the Operational Program "Regions in Growth" 2014-2020.

In December last year, the local government launched a poll on its Facebook page about taking a loan for the purpose.

Among the stated reasons were the increase in the price of construction materials and wages due to inflation.

The municipality then announced that 15 percent compensation from the state for the projects was not enough.

Yambol municipality

loan

Yambol