site.btaBulgarian Energy Holding Will Provide BGN 100 Mln Credit to Maritsa Iztok Energy Complex

The Bulgarian Energy Holding will provide a BGN 100 million credit line to Mini Maritsa Iztok EAD. In addition to this, funding of up to BGN 50 million has been secured from the Commercial Bank. The funds come as part of the National Assembly's decision to provide BGN 250 million from the state budget for a period of four years or a total financial resource of BGN 1 billion, said Wednesday caretaker Energy Minister Vladimir Malinov. 

Earlier in the day, Malinov held a meeting with Stara Zagora Mayor Zhivko Todorov, Radnevo Mayor Georgi Petrov and representatives of trade unions. The caretaker Energy Minister discussed the future of the Maritsa Iztok energy complex.

"A significant part of this financial resource, namely more than BGN 140 million, will go mainly for salaries, insurance and social benefits, on the basis of the Collective Labour Agreement already signed in the last 10 days with the representatives of the two trade unions", the caretaker Minister said.

In Malinov's words, there is already a long-term contract concluded between the mines and one of the systems’ operators from now until the end of 2026. This gives people peace of mind that they will have a job and will receive their wages.

During the meeting, Stara Zagora Mayor Zhivko Todorov pointed out that "the work of the complex is guaranteed at the moment. People will be able to receive their wages normally. In fact, until a month ago the complex was threatened by mass redundancies, but this will not happen".

On April 25, the caretaker Government granted BGN 250 million a year to Maritsa Iztok Mines EAD. Providing of additional BGN 50 million in the short term was adopted by the National Assembly on the same date. This transpired after the meeting of caretaker Prime Minister Dimitar Glavchev and caretaker Energy Minister Vladimir Malinov with representatives of protesting miners and energy workers.