site.btaSofia Mayor Terziev, EBRD Associate Director Mishaxhiu Discuss Opportunities for Key Infrastructure Investments

Sofia Mayor Vassil Terziev and Deputy Mayor for Finance Ivan Vasilev met with European Bank for Reconstruction and Development (EBRD) Associate Director Donald Mishaxhiu, Sofia Municipality said here on Wednesday. The purpose of the meeting was to discuss financing opportunities for key infrastructure investments to improve the Bulgarian capital's energy efficiency.

The meeting was also attended by EBRD Head of Bulgaria Manuela Naessl, EBRD Principal Banker for Bulgaria Svetlomir Manolov EBRD Analyst-Green Cities Erisa Nesimi.

"In the last year we changed the logic by which Sofia Municipality finances its projects. Until now, activities were planned for which funding was available. My team now determines first which are the investments most relevant for improving the quality of life of people and then we find a way to finance them," said Terziev. 

Funding investments in transforming school buildings, courtyards and the surrounding infrastructure were discussed as part of Sofia Municipality's urban regeneration efforts.

The modernisation of public vehicles was also set as a funding priority in the current mandate. It is in line with the target set by Terziev's team - that over 80% of travel in Sofia will be by public transport by 2035. 

Among the opportunities that were discussed were investments in improving infrastructure in neighbourhoods, projects to optimise waste management and to increase the energy efficiency of public buildings.