Raiffeisen Real estate - Poperty in Bulgaria, Bulgarian properties for sale and rent, apartment, house, land and plots

A EUR 33 mln fund has been established to focus on income generating, urban development projects in Bulgaria, including revitalization of urban areas in seven big cities in the country.

The European Investment Bank (EIB), represented by Vice-President responsible for the JESSICA program, Matthias Kollatz-Ahnen, and Bulgaria's Minister for Regional Development and Public Works Rosen Plevneliev today signed an agreement establishing a JESSICA Holding Fund.

EUR 28 mln has been committed by the European Regional Development Fund (ERDF), with the remainder provided by the Bulgaria state.

The fund will facilitate implementation of the Bulgaria's 2007-2013 Regional Development Operational Programme, with a strong urban development focus.

The fund will provide loans, guarantees and equity financing for integrated sustainable urban development projects. Funds repaid from these projects remain in Bulgaria and can be used for further re-investment in the region.