EIB and FUND Flag sign EUR 25 million loan for green cities in Bulgaria

The European Investment Bank and FUND Flag have signed a EUR 25 million loan to promote urban regeneration and rehabilitation in cities across Bulgaria. FUND Flag will match the loan amount with EUR 25 million of its own resources and channel the total sum (EUR 50 million) to Bulgarian municipalities, municipal enterprises and other institutions responsible for providing public services.

The money will be used for upgrading urban green areas and open public places, improving sustainable urban transport and reconstructing public buildings. The projects are expected to create 1,500 new jobs in construction sector. 20% of the investments are specifically intended for energy efficiency, the reporter of BNR Marta Mladenova announced.