EIB signed BGN 36.8 million agreement under the JESSICA initiative

April 1, 2014

On December 29, 2011 was signed an operating agreement between the European Investment Bank – Holding Fund JESSICA (Joint European Support for Sustainable Investment in City Areas) for Bulgaria and Urban Development Fund (UDF) – a consortium with leading partner “Societe Generale ExpressBank”. This was reported by the Ministry of Regional Development and Public Works (MRDPW).

The agreement amounts 36.8 million lev. With the ensured by the UDF financing by the mid-2015 will be invested overall BGN 110 million, indicated by MRDPW. The funds will be used for projects subject to public-private partnerships and other projects for urban development in the form of loans and equity. Final beneficiaries can be municipalities, private investors and public-private partnerships in the six major cities in Bulgaria – Plovdiv, Varna, Burgas, Ruse, Stara Zagora and Pleven.