site.btaBulgaria, UBB Sign Guarantee Agreement for Vertical Gas Corridor Funding

A guarantee agreement between Bulgaria and United Bulgarian Bank (UBB) was signed by Finance Minister Temenuzhka Petkova and the bank's Executive Directors Dobromir Dobrev and Teodor Marinov, the Ministry announced on its official website on Friday.

During the ceremony, a long-term loan agreement was also signed between the Bulgarian gas transmission operator Bulgartransgaz and UBB to finance a project for "expansion of the gas transmission infrastructure of Bulgartransgaz EAD for the implementation of the Vertical Gas Corridor initiative of the gas transmission operators of Bulgaria, Greece, Romania, Hungary, Slovakia, Ukraine, and Moldova." 

The document was signed by Dobrev, Marinov and Bulgartransgaz CEO Vladimir Malinov. Energy Minister Zhecho Stankov also attended the event, according to the statement.

By a decision of the Council of Ministers in September 2025, two draft guarantee agreements between Bulgaria and UBB, as well as between the State and Investbank, were approved.  The projects under the Vertical Gas Corridor initiative were declared national projects and projects of national importance by a decision of the Council of Ministers in 2024, the statement said.