From Oct.8th to Oct 10th, 2009, the Sixth National conference of the Bulgarian municipal authorities will be held in the town of Sandanski. It is organized by the National Association of Municipalities in Bulgaria. The aim of this meeting is to create a forum for the Mayors, the Chairs of Municipal Councils, members of the municipal councils and key experts, where they could discuss the trends in the development of local governance in Bulgaria.

This year CIBANK will participate in the conference too, where it will present the credit line, received from the European Investment Bank. CIBANK has a contract signed with the European Investment Bank at the amount of EUR 25 mln. to be used for financing investment projects for Small and Medium-sized Enterprises and municipalities. The financial facility for municipal projects is EUR 3 mln. The maximum amount of the loan to municipalities can be up to BGN 5 mln, 50% of the total cost of the project can be financed with the funds from the EIB. The rest of the project cost can be financed by CIBANK following the standard conditions for investment loans and self-participation of the client.

At loan utilization the municipalities have the chance to receive an EC grant amounting to 5% of the loan financed with EIB funds which can be used for repayment of the same loan.