The US Department of Defence’s Defence Security Cooperation Agency (DCSA) has written to Bulgaria’s Defence Ministry saying that Bulgaria has been included in the list of countries that will be able to pay in instalments for new military acquisitions.
The letter was the result of the US Department of Defence’s Foreign Ministry Sales contracts by which Bulgaria will acquire F-16 fighter jets and other defence products, the Ministry of Defence in Sofia said on April 8.
It should be borne in mind that DSCA will apply the option of deferred payment depending on the duration of the contract and the volume of defence products delivered, the ministry said.
This will allow the Ministry of Defense to implement a flexible financing scheme for the acquisition of defence products and services and reduce the burden on the defence budget in the coming years.
On August 12 2019, Bulgaria’s Ministry of Defence said that it had transferred to the US the entire amount of $ 1.2 billion under international government procurement contracts to acquire eight F-16 Block 70 aircraft and related equipment and armaments.
Bulgarian Air Force pilot Major Valentin Terziev died on June 9 when his MiG-29 fighter jet crashed during a training exercise, the Defence Ministry confirmed in a statement on June 10. Terziev had been taking Read more…