Bulgaria will receive EUR 100 million for the Orizovo-Stara Zagora-Karnobat-Bourgas section of the Trakiya highway from the European Investment Bank (EIB). The project is of the total worth of EUR 240 million. Minister of Regional Development and Public Works Evgenii Chachev said that EUR 140 million will be extended under the national budget and the ISPA EU programme. The EIB loan is extended for a term of 20 years, with a five-year grace period and an interest rate equal to LIBOR on the day of payment. Repayment will be effected through biannual instalments by the Roads Fund. The Government also endorsed an agreement on the establishment of a trust fund for co-operation in the construction of the North-South transport corridor (Crete Corridor IV) signed by Bulgaria in February 1992. The highway is constructed under the aegis of the Inland Transport Committee with the UN Economic Commission for Europe and the UN Development Program. It is a joint project involving Austria, Bulgaria, the Czech republic, Poland, Hungary, Greece, Italy, Romania, FR Yugoslavia and Turkey. The Bulgarian section of the highway stretches from Kalotina (on the Bulgarian-Serb border) to Kapitan Andreevo (Bulgarian-Turkish border)