Over the next five years Veliko Tarnovo will receive EU funding of 53 million leva, to invest in the development of the city. On Monday, the Mayor of Veliko Tarnovo Daniel Panov, signed an agreement which delegated him the right to assessment and select the projects under the number one priority axis – Sustainable and Integrated Urban Development of the Operational Program Regions in growth 2014 – 2020 Operational Programme. The money for Veliko Tarnovo will come from this Operational Programme – the former capital of Bulgaria is now among the ten largest cities identified as the engine of economic growth in Bulgaria.
The funds will be invested for upgrading urban environment, schools, kindergartens, sports and cultural sites in the town. About 20% of the resource is designated for energy efficiency of public and residential buildings. The Municipality can use the money for integrated urban transport and the related infrastructure as well as for the development of the economic zones in the town. Investments are defined in the already approved Integrated Plan for Urban Restoration and Development.