Bulgaria Backs State Aid for Electricity Company’s Rosatom Debt
- State company owes $700 million for canceled nuclear project
- Bulgaria seeks to repay part of Rosatom debt this year
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Bulgaria’s parliament voted in favor of financial aid for the state-owned National Electricity Company as it seeks to prevent the Balkan country’s energy sector from collapsing over an unpaid 629-million euro ($700 million) debt to Rosatom Corp. for a scrapped nuclear project.
Lawmakers voted 132 to 2 with 6 abstentions to adopt a special bill that will allow the Energy Ministry to transfer money from the fiscal reserve to National Electricity, Deputy Speaker Dimitar Glavchev told lawmakers in Sofia on Wednesday. The bill, which has yet to pass a final item-by-item approval next week, didn’t specify the amount of state aid to be provided.