Matthias Kollatz-Ahnen, European Investment Bank Vice-President responsible for the JESSICA programme, and Rosen Plevneliev, Bulgaria’s Minister for Regional Development and Public Works, signed an agreement on 29 July in Sofia establishing a JESSICA Holding Fund. This will focus on revenue-generating, urban development projects, including the rehabilitation of deprived urban areas in seven big cities across the country. The EUR 33 million fund, including EUR 28 million from the European Regional Development Fund (ERDF), is complemented by EUR 5 million of Bulgarian national co-financing. It will allow the implementation of Bulgaria’s 2007-2013 Regional Development Operational Programme, which has a strong urban development focus.