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Minister Bogdanov: BGN 45 million have already been reimbursed to the SCC for the unrealised government complex

Minister Bogdanov: BGN 45 million have already been reimbursed to the SCC for the unrealised government complex

The state will repay its loan to the BDB, which will release all state-owned companies that have been pledged as collateral and ensure that jobs in them are preserved

Forty-five million BGN has already been refunded to the State Consolidation Company (SCC) account by the company that was awarded the project for the unrealised government complex.

‘With the return of this amount, as well as with other recovered funds, SCC will repay at least BGN 90 million of its debts to the Bulgarian Development Bank (BDB), which will stop the payment of tens of millions of interest, the collateral of the pledged public enterprises will be lifted, among which LB Bulgaricum EAD, Kintex EAD, Niti EAD, and others. ‘This will guarantee the future development of the companies and the jobs of the 5,500 people employed there.’ This was commented by the Minister of Economy and Industry Bogdan Bogdanov.

In the period 2016-2022, the SCC has drawn down loan funds from the BDB for over BGN 152 million, with over BGN 22 million in interest paid to date.

‘With the repayment of the debt owed to the BDB, the state and taxpayers will stop paying interest on these debts,’ Minister Bogdanov said.

In his words, the future of state-owned enterprises and their efficient and transparent management is one of the main priorities of the Ministry. All necessary actions to protect the state interest and to recover the financial damage generated in previous years are also ongoing. These include, in addition to the unrealised government complex, the losses for the repairs and reconstructions of the dams, concerning funds unduly spent by Montagi EAD, as well as the framework contract for the acquisition of claims and participations between the State Consolidation Company and the commercial company Kemira.

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