“The investment loan of up to 367 million euros, which Sofia Municipality is about to take, will provide funding for the construction and repair of boulevards and the modernization of public transport. This will free up resources for more projects that have not been funded or have remained on the back burner“. This was said by Sofia Deputy Mayor for Finance Georgi Klisurski in an interview with “24 Chasa“, Sofia Municipality specifies.
A slight increase in own revenues is expected in the municipality's budget for 2027. According to Klisurski, the main difference next year will be the additional resources from the investment loan, which will allow us to accelerate the implementation of prepared projects.
It is also important that thanks to the loan, we will have more financial resources for other projects that have not been a priority so far, the deputy mayor emphasized.
The deputy mayor explained that the loan is divided into two parts - for new urban transport rolling stock and for infrastructure construction. Approximately half of the total amount will be financed by the European Investment Bank (EIB). A competitive procedure has been announced for the remaining part, in which Bulgarian commercial banks will submit proposals for financing.
„We will choose the best for the municipality. 3 offers have been submitted and in a few weeks we will know which bank will finance the other half of our investment intentions“, Klisurski said.
„Green Ring“ and a new playground on Kopitoto among the projects for Sofia
Among the major projects that will be included in the budget for 2027 is the “Green Ring“. Already this year, the municipality has provided funds for the design of the first two sections - “Iztok” and “Slatinska Reka”. The project is a 30-kilometer linear park that will go around the entire city of Sofia and will offer opportunities for running, walking and cycling in a pleasant green environment. “This is a major project that will change the face of the city“, said Klisurski.
Another project, which he said will be emblematic for Sofia, is the construction of a new modern observation deck on Kopitoto, from where the entire city will be visible.
Work has already begun on “Copenhagen“ Blvd., which will relieve some of the traffic on “Al. Malinov“ Blvd. and will provide a connection between the metro and tram transport. It is expected that activities will begin on the second stage of “Rozhen“ Blvd., on “Chelopeshko Shose“, as well as on the relocation of the tram on “Skobelev“ Blvd.
The first new electric buses are expected to be delivered to Sofia in March, and the trolleybuses – in the summer, the deputy mayor announced.
Sofia expects payments from the state for completed projects
When asked about Sofia's funds for this year, Klisurski specified that the main expectation is related to financing under the investment program for municipal projects. The Sofia Municipality has submitted applications for about 20 million euros. Of these, the MRDPW has already approved about 10 million euros, which have not yet been paid. The municipality expects the state to act as quickly as possible in order to pay off the contractors of projects such as the repairs on “Stamboliyski“ Blvd. and “Opalchenska“ St. They have long been used by Sofia residents, but the funds from the state are still expected. Payments are also expected for schools, sewage and other facilities, Klisurski said.
Regarding the financing of public transport, the deputy mayor said: “We are trying to achieve parity – as much as the municipality subsidizes, the state should also give. Therefore, for 2027, we will insist on increased funding“. He added that the municipality strives to use as many different sources as possible to finance investments – European programs, the European Investment Bank, and others. The goal is for the investments to be fully covered by these sources, and for the maintenance of public transport to remain at the expense of the state and the municipality.