Sustainable Cities Fund - a partnership, est. in 2017, between the public and the private sector companies for managing Urban Development Funds for Sofia and Southern Bulgaria 2014-2020, based on the success of Fund for Sustainable Urban Development with implementing JESSICA initiative for the city of Sofia.
The main objective of the Urban Development Funds is to attract additional private resources to complement the public funding provided under the Operational Programme "Regions in Growth" 2014-2020 through the Fund Manager of Financial Instruments in Bulgaria (FMFIB), for financing eligible urban projects and for achieving the objectives of the EU Cohesion Policy. UDFs provide long-term investment loans for projects for urban regeneration, cultural heritage, EE, sustainable mobility, cultural, sports and social infrastructure, business zones, etc.
The Urban Development Funds have demonstrated considerable growth over the years, with public resources increased fivefold compared to the JESSICA initiative, an expanded territorial and eligibility scope and the introduction of combination of financial instruments with grants within a single operation under the 2021-2027 programming period.
| Competition theme: Growing impact Submitting organisation: Sustainable Cities Fund Type of authority: Public-private financial intermediary Financial instrument name: Urban Development Fund |
| Country: Bulgaria Funding source: ERDF Type of financial product: Loan Financial size: EUR 206 800 000 |
