Bulgaria Pays Back To Japan $45.35 M
Today, 15 April, an operation for pre-term acquittal of the rest of the debt under credit agreement between Bulgaria and the Japanese bank for international cooperation (JBIC) under FESAL II loan (Second loan for restructuring of the financial sector) which is worth JPY 4 579 678 746.00, including the due interests, was implemeted, informed the ministry of finance.
According to today's exchange rate, the paid amount is around $45.35 M.
The operation follows the made on 25 March 2008 pre-term acquittal of six loans towards the International bank for reconstruction and development, under one of which – FESAL II, JBIC participates as a co-funding institution, explain experts from the ministry.
According to the loan agreement between the Bulgarian ministry of finance and the Japanese bank, a pre-term payment of the remaining of the debt to the co-funding institution is obligatory in case of pre-term acquittal of the debt to the International bank for reconstruction and development.
The operation is implemented in the context of the undertaken actions for pre-term acquittal of external state loans with funds from the fiscal reserve, explains the ministry.