Raiffeisenbank (Bulgaria) EAD was selected as a partner bank by the Fund for Sustainable Urban Development of Sofia (FSUDS), winning a tender for managing and administrating of the funding of projects for improvement of the urban environment of the capital city.

Eligible for urban development project financing will be the Sofia Municipality, municipal companies, public-private partnerships and private investors. Half of the funds, at the amount of BGN 24.6 million, have been provided by the Operational Programme "Regional Development 2007-2013" through the JESSICA Holding Fund for Bulgaria. The remaining BGN 24.6 million has come as co-financing from the Fund for Sustainable Urban Development of Sofia.

Raiffeisenbank will make assessment of the risk and creditworthiness of the end-borrowers and will administer the project financing.

The projects, which can receive financing from FSUDS, should be related to improvement of urban environment and infrastructure, renovation of public space, rehabilitation of transport infrastructure and mobility improvement, restoration of undeveloped urban zones, etc.