Bulgaria, EIB Extend Term of Financing Urban Projects under JESSICA

Bulgaria, EIB Extend Term of Financing Urban Projects under JESSICA

 Bulgaria and the European Investment Bank have extended by two years their three-year agreement for funding projects under the JESSICA initiative for sustainable urban development to December 31, 2015, the government said.

Bulgaria is one of the ten EU member states that uses the JESSICA mechanism. The JESSICA Holding Fund in Bulgaria has been allocated 33 million euro under the Regional Development operational programme. The EU initiative foresees developing projects in seven big cities in the country through public-private partnerships.
Although the agreement was signed in October 2010, the first JESSICA project in the country was started in February 2013. It is the reconstruction of the market place in the city of Stara Zagora.
Stara Zagora is not the only beneficiary so far. Plans have been approved for the construction of an underground tourist attractions park in the city of Burgas, on the Black Sea coast, and the modernization of two market places in the capital.
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