Burgas mayor Dimitar Nikolov has asked the city council to approve a contract with FLAG Fund under which the city would take on a loan of up to 14,878,798 euros. He set out the request in a report to councillors.
The money is for nine projects in the 2026 budget.
Councillors backed the plan to borrow at their session in late September. They still have to approve the contract itself, and the vote will be at the next regular meeting.
The report says the city can draw on the loan for up to three years. It will repay it over 15 years, at an average yearly interest rate of 3.6%.
One project is for city infrastructure to encourage activity, healthy living and education. Another is for an academic centre for education and technology. The list also includes "Burgas Supporting Economic Activity" and a project on transport and road safety. Next is "InnoBurgas", a centre for science, technology and entrepreneurship.
The loan will also pay for green measures to clean the air and for the city's urban mobility plans, which aim for a shift to a climate-neutral society that can withstand climate change. Money is also set aside to prepare Burgas region for disasters, fires and emergencies. The ninth project is for water from borehole B-108 at the Izvorishte deposit.
If councillors agree, the contract with FLAG Fund will be signed.