Minister Pavlova presented the signed agreement between EIB- Holding Fund, under JESSICA for Bulgaria, and the Urban Development Fund
Minister Pavlova presented the signed agreement between EIB- Holding Fund, under JESSICA for Bulgaria, and the
By Ministry of Regional Development and Public Works
18 Jan 2012 | 12:48
On 12.01.2012, Minister Pavlova presented the signed agreement between EIB- Holding Fund, under JESSICA for Bulgaria, and the Urban Development Fund – consortium with a leading partner Societe Generale Express bank, under the Operational Programmes.
An agreement had been signed on 29 December 2011. Its total value is 36, 9 million leva. 110 million leva are to be invested by the middle of the year 2015, with the provided co-financing of the Urban Development Fund (UDF).
It aims at securing PPP and other projects with UDF funding. The goals will be achieved through the provision of loans and share- partnership to the final beneficiaries- municipalities, private investors and PPP, in the six major cities in Bulgaria- Plovdiv, Varna, Rousse, Stara Zagora and Pleven.
Urban projects can be funded under JESSICA, whereas the investment will be regained. Such projects will include industrial zones, business and trade centers, amusement centers, sports’ facilities etc.
The projects have to be compliant with the aims and activities of Priority axis 1 under Operational Program “Regional development 2007-2013”- “Sustainable and Integrated Urban Development”. Also, they have to be compliant with the common territorial plans to the towns and cities, the municipality development plans etc.
The final beneficiaries will apply with projects under UDF.
JESSICA is a joint initiative of the European Commission, the European Investment Bank and the Development Bank, to the European Council. It aims at encouraging sustainable investment, the growth and opening of new work places in the European Urban Regions. The initiative JESSICA is a pilot project for financial engineering to the EU. It manages to provide PP investment approach for sustainable urban development, within the framework of the current program period.
An agreement had been signed on 29 December 2011. Its total value is 36, 9 million leva. 110 million leva are to be invested by the middle of the year 2015, with the provided co-financing of the Urban Development Fund (UDF).
It aims at securing PPP and other projects with UDF funding. The goals will be achieved through the provision of loans and share- partnership to the final beneficiaries- municipalities, private investors and PPP, in the six major cities in Bulgaria- Plovdiv, Varna, Rousse, Stara Zagora and Pleven.
Urban projects can be funded under JESSICA, whereas the investment will be regained. Such projects will include industrial zones, business and trade centers, amusement centers, sports’ facilities etc.
The projects have to be compliant with the aims and activities of Priority axis 1 under Operational Program “Regional development 2007-2013”- “Sustainable and Integrated Urban Development”. Also, they have to be compliant with the common territorial plans to the towns and cities, the municipality development plans etc.
The final beneficiaries will apply with projects under UDF.
JESSICA is a joint initiative of the European Commission, the European Investment Bank and the Development Bank, to the European Council. It aims at encouraging sustainable investment, the growth and opening of new work places in the European Urban Regions. The initiative JESSICA is a pilot project for financial engineering to the EU. It manages to provide PP investment approach for sustainable urban development, within the framework of the current program period.
