Narrative
The project envisages the construction of a commercial complex with 12 separate premises for retail outlets, green areas, a children's playground, recreation areas with a restaurant and cafe and a large parking lot. In addition, the project envisages additional interventions to improve the urban environment - construction of a free public parking lot to be used by all residents of the city, including visitors to Yunak Park, located near to the commercial area. According to the project description, the construction of the commercial park will have a great positive social and economic effects in the town of Sliven. The choice of shopping for high-quality, diverse goods of daily necessity in the city will increase, making it even more attractive for its residents and incoming traffic. As a result of the implementation of the project, more than 150 additional jobs will be created in the city of Sliven.
Financial data
Approved funding: EUR 6 604 010, of which EUR 3 896 366 is co-financing from the European Regional Development Fund under the Urban Development Fund South Bulgaria - a financial instrument under the OP "Regions in Growth" 2014-2020. The main objective of the Urban Development Funds is attracting of additional private resource to the public resource, provided by the operational programme.
Recommendations
Although, the project is planned to have a positive economic and social contribution to regional development, it questions the need of using of EU funding instruments for supporting projects that are truly commercial and that could rely on private financing. Another week point is the lack of any commitments to installation and use of renewable energy sources. It could be therefore recommended, that EU funding is directed to projects that could not have an access to competitive and affordable funding and have an added-value from the point of view of economy, innovation and environment.
