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33M euro for the construction of parking facilities in Bulgarian cities

Thu, Dec 17 2009 14:14 CET

byNick Iliev

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33M euro for the construction of parking facilities in Bulgarian cities

Photo: Nir Elias

Under the Regional Development programme, 33 million euro will be made available for the creation of a holding, which in turn will enable the construction of parking facilities in Bulgaria's large cities, Deputy Regional Development Minister Lilyana Pavlova was quoted as saying by Bulgarian media on December 17 2009.

Pavlova is also in charge of the team designated to monitor the project's progress and development.

The Regional Development fund is similar to the Operative Programme fund for Competitiveness, which in turn was set up to assist the development of small and medium-sized businesses in the country.

Discussions with the European Investment Bank are scheduled to take place in January 2010. The EIB is poised to provide financial assistance for the creation of the Regional Development Holding, according to Pavlova.

Once the holding is established, both non-government organisations and municipalities will be able to apply through tender procedures to receive the required funding. According to Pavlova, the holding is earmarked to commence operation in 2011 through which "profitable business projects will be stimulated".

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