Bulgaria has selected US-based banking group Citi to coordinate financing for the expansion of the Kozloduy nuclear power station.

The agreement means Citi is the “exclusive coordinator and lead arranger” of export credit for the project, marking the bank’s largest nuclear financing effort in central and eastern Europe, said a statement by the Bulgarian energy ministry.

Energy minister Zhecho Stankov finalised the partnership during talks in New York with Citi’s leadership.