Sat, May 26 2012

Bulgarian Parliament set to approve JESSICA by end of October 2010

Wed, Sep 29 2010 10:07 CET

byDnevnik.bg

1593 Views
Bulgarian Parliament set to approve JESSICA by end of October 2010

Photo: Julia Lazarova

The Bulgarian Parliament is expected to ratify by the end of October 2010 an agreement with the European Investment Bank (EIB) to set up a holding fund under Joint European Support for Sustainable Investment in City Areas (JESSICA).

The announcement was made by regional development minister Rossen Plevneliev, who on September 28 2010 attended a conference hosted by the City of Athens Development Agency (AEDA) and the Confederation of Employers and Industrialists in Bulgaria (CEIBG).

Ratification of the agreement will give the green light to seven Bulgarian cities to gain access to loans worth a combined 33 million euro, the funding granted to Bulgaria under the initiative.

The eligible cities that can submit projects include Sofia, Plovdiv, Stara Zagora, Bourgas, Varna, Rousse and Pleven.

The 65 million leva will be provided by the European Regional Development Fund (ERDF) and will be managed by the European Investment Bank (EIB).

The EIB will use the money to set up two smaller urban development funds, including one for Sofia with a capital of 26 million leva and another one for the remaining six cities with a capital of 39 million leva.

The sub-funds will be managed by financial institutions that will be selected through tender procedures.

Money is expected to start flowing to municipalities and businesses from mid-2011.

Source: Dnevnik.bg

  • Print
  • Send via email
  • Translate to
  • Share:

To post comments, please, Login or Register.


Please read the The Sofia Echo forum comments policy.

CEIBG to name new chairman

CEIBG will also elect, by secret ballot, new members of its management and supervisory board for a two-year term of office.

EU structural funds for urban renewal - First Jessica holding fund for Bulgaria - report

The Jessica fund will be tasked with revenue-generating, urban development projects, including the rehabilitation of deprived urban areas in seven big cities across the country.

European Investment Bank deal with Bulgaria on urban plans

Memorandum of understanding signed on May 27 2009 provides for assistance for Bulgaria’s largest municipalities in drawing up integrated urban development plans and projects, and special funding for urban development projects.

More in this category

Saab awarded $2.4M military training equipment contract in Bulgaria

The funding is provided under the foreign military sales programme of the US army's Program Executive Office of Simulation, Training and Instrumentation.

Two Brits fined for hooliganism in Bulgaria’s Veliko Turnovo

The UK nationals were arrested after throwing beer bottles at people after being refused entry to a restaurant that had closed for the night.

Tourism: Bulgaria to spend 300M leva on restoring castles, ancient sites

Restoration and development projects include Madara Horseman, Arbanassi fortress, Magura cave.

Sovereign Order of Malta assists hospital in Bulgaria’s Iskrets

Simeon Saxe-Coburg and his spouse Margarita opened a new heating and insulation system at the Tsar Ferdinand Hospital for Pulmonary Diseases in Iskrets, a project implemented thanks to the Embassy of the Sovereign Order of Malta in Sofia and the Nando Peretti Foundation.

Bulgarian Parliament passes confiscation act

According to the law's provisions, the commission will have the power to investigate individuals without prior notification and would not require a criminal conviction in order to launch an investigation.

© 2000-2012, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.