Holding BDZ EAD extinguished its liabilities to the state budget, amounting to BGN 42 million (EUR 21.4 million). The repayment of these liabilities will save on penalties, amounting to BGN 2.7 million (EUR 1.3 million) on an annual basis.
The company’s liabilities to the budget were a result of payments made after activated state guarantees for the repayment of World Bank loans received under the 1995 Restructuring Project in Bulgaria. The funds for repaying the debt were secured through a non-interest-bearing loan approved by the European Commission.
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