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EIB financing for six cities in Bulgaria

Monday 09 January 2012

As manager of the JESSICA (Joint European Support for Sustainable Investment in City Areas) Holding Fund for Bulgaria, the European Investment Bank concluded, on 3 January, an agreement with the European Regional Development Fund (ERDF) for the establishment of an urban development fund. The new fund will invest in urban projects in the cities of Plovdiv, Varna, Burgas, Ruse, Stara Zagora and Pleven. Established as a joint stock company owned by Société Générale Expressbank, Elana Holding, Elana Investment and Balkan Advisors, the fund will invest around €18.8 million of JESSICA funds and around €37.6 million of its own funds in rehabilitation projects in deprived urban areas, basic infrastructure works, energy networks and energy efficiency.



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