Parliament approved financial aid to NEK – Bulgaria, 29 September 2016

The Bulgarian Parliament has approved a draft bill on granting financial for the payment of the debt of the National Electric Company (NEK). The non-refundable financial aid from the state budged will be used in order to repay the company’s debt under the arbitration ruling on NPP Belene project.
The conditions for granting the aid will be determined by the Council of Ministers on the basis of an agreement between the Ministry of Energy and NEK, approved by the Council of Ministers. However, the aid will be granted only after the approval by the European Commission. NEK will not pay interest on the aid and the company will not provide collateral.

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