FINANCIAL PRODUCTS

During the first investment cycle (2018–2023), the Sustainable Cities Fund financed urban development and tourism projects through the provision of:

• Investment loans;

• Working capital loans, which are linked to or complement an investment loan provided by FSC to Eligible Final Recipients;

• Loans to individuals for energy efficiency measures in single-family residential buildings

Maximum Financing Amount

• Urban Development – the total investment by the Urban Development Funds (UDF) in an eligible project may not exceed BGN 39,116,600 (EUR 20,000,000).

• Tourism and Cultural Heritage (Priority Axis 6) – the total investment (grant + financial instrument) in a project involving an immovable cultural heritage site may not exceed:

  • BGN 9,779,150 for sites classified as of “national significance”;

  • BGN 19,558,300 for sites classified as of “world significance”.

Beneficiary’s Own Contribution

The final recipient must provide a minimum own contribution of 15% of the total investment project cost.

A lower minimum own contribution (below 15%) is permissible for projects implemented by public authorities and for projects with a higher contribution to the target indicators of OPRG 2014–2020.

Repayment Periods

• Minimum maturity: 12 months.

• Maximum maturity:

  • 240 months (20 years) for urban development projects and projects in tourism and cultural heritage;

  • 180 months (15 years) for energy efficiency projects.

Maximum Grace Period for Principal Repayment

• 36 months (3 years) for urban development projects and projects in tourism and cultural heritage;

• 18 months for energy efficiency projects.