This fi-compass Showcase 2019 submission is a video story about three interconnected urban development projects that were undertaken in Sofia, Bulgaria and received loans from the Urban Development Funds of Sofia: the Fund for Sustainable Urban Development (FSUD) and the Sustainable Cities Fund (SCF), co-financed with European Regional Development Fund (ERDF) resources.
The two first projects showcased in the video:
• the construction of a multifunctional sports complex, and
• the construction of Park Vazrazhdane,
received loans from the FSUD, an urban development fund under the JESSICA initiative.
The third project shown in the video:
• the expansion of the park area and construction of a thermo-mineral recreation complex
received a loan from the SCF, an urban development fund for Sofia, which was selected by the Bulgarian Fund of Funds (Fund manager of financial instruments in Bulgaria – FMFIB) in 2018.
The three urban development projects showcased in the video are located next to each other on a previously degraded area which has now become a center of attraction for sports activities, recreation, socialising and entertainment for the residents and guests of Sofia. The implementation of the three projects is a great example of an integrated approach using the financing from the Urban Development Funds of Sofia: FSUD and SCF.