Regional Urban Development Fund“ AD
Call for project proposals under JESSICA initiative has been published
On the 29h of December 2011 г. an Operational Agreement was signed between European Investment Bank – JESSICA Holding Fund for Bulgaria and Urban Development Fund (UDF) – consortium with leading partner “Sosiete General Express Bank - „Regional Urban Development Fund“ AD
The signed Operational Agreement with the „Regional Urban Development Fund“ AD amounts at 36,9 mln. lv. The main purpose of the Fund is to invest the funds provided through loans and equity in urban development projects in the six large cities of Bulgaria – Plovdiv, Varna, Bourgas, Rousse, Stara Zagora and Pleven.
Additional own co-financing amounting to 73,8 mln. leva has been provided by the Fund. Thus the total amount for project financing in the cities pointed above is 110,7 mln. leva.
Conditions for applying:
Urban development projects will be financed by the RUDF AD through short-term/mid-term/long-term loans and/or equity
- The interest rate of the loans offered by the RUDF AD is limited up to 9 % depending on the risk
- Loan Repayment Term – up to 18 years
- If you are municipality/private investor/PPP and you have an idea for urban development project you can get in touch with the contact persons indicated at the web site of the RUDF - www.jessicafund.bg in the relevant cities and to discuss together the possibilities for financing of your project
- The project idea created by you shall be preliminary agreed with the municipality in the relevant city
- You shall present elaborated Business Plan of the urban development project in order to apply for financing from the Fund
- After an assessment for compliance with the project selection criteria, risk assessment as well as cost benefit analysis the Fund will let you know if the project proposed by you is appropriate for financing under JESSICA and will present you an offer
- The urban development project financing will be done in tranches after signature of a contract for project financing between you and the Fund, which gives the start of the investments
- The loan repayment/equity sale shall be done according to the provisions of the contract signed between you and the Fund.
For more information:
Sofia, Aleksandar Stambolijski 73 bul.
Todorina Doctorova – senior investment manager
Tel.: +359 2 937 05 44, email@example.com
RUDF – Guidelines for application
- Plovdiv Municipality: http://www.plovdiv.bg/
- Varna Municipality: http://www.varna.bg/
- Bourgas Municipality: http://www.obstina-bourgas.org/
- Rousse Municipality: http://www.ruse-bg.eu/
- Stara Zagora Municipality: http://www.starazagora.bg/
- Pleven Municipality: http://www.pleven.bg/
- Managing Authority of the OPRD - e-mail: firstname.lastname@example.org.
Last modified: Thursday, September 13, 2012 6:06 PM