It is thought that Bulgaria, which is already growing in popularity with UKoverseas property investors, will be even more attractive after the completion of the project.

The World Bank has agreed to lend Bulgaria 15 million euros (&pound10 million) to invest in its infrastructure and social inclusion projects, it has emerged.

Nearly 450km of roads in Bulgaria will be renovated using the World Bank funding, the Sofia Echo reports.

It is thought that Bulgaria, which is already growing in popularity with UKoverseas property investors, will be even more attractive after the completion of the project.

Another process which could be of benefit to property investors because of the associated economic benefits is Bulgaria's effort to improve its social inclusion as it continues to open up trade with other EU nations.

Shigeo Katsu, the World Bank's regional vice-president for Europe and central Asia, commented: "Building up the institutional capacity is of key importance for Bulgaria now when the country has to utilise EU accession funds and this project will help in that respect."

The Sofia Echo quoted Prian.ru as saying that foreign property investment in Bulgaria reached 1.13 billion euros in 2006 and recent statistics from the Bulgarian National Bank revealed that foreign property investment in the country increased rapidly over the first three months of 2007.