Over 1 billion euros are earmarked for urban development and just transition in Bulgaria under the “Development of Regions“ program. Up to 400 million euros will be attracted for investments in cities, and another 600 million euros are earmarked for the territories that are most affected by the transition to a climate-neutral economy.
The funds for just transition will be directed to the regions of Pernik, Kyustendil and Stara Zagora. They should support the development of these territories in the process of changing to a lower-carbon economy.
Financing for 50 municipalities
The urban development resource will be provided in the form of long-term loan financing until the end of 2029. 50 municipalities - 10 large and 40 medium and smaller urban municipalities - will be able to benefit from it.
The money can be used for the modernization of the urban environment, green infrastructure, energy efficiency and sustainable transport. Among the eligible areas are also the construction and renovation of health, social and educational facilities.
The possibility of combining loan financing with grants is envisaged. This way, municipalities will be able to combine both types of support in the implementation of projects.
Financial intermediaries are to be selected
The funds will reach the final recipients through financial intermediaries. They are to be selected, after which the mechanisms for providing financing will be specified.
Detailed statistics on the average property prices in Bulgaria by cities and neighborhoods can be seen at imot.bg