Brussels, 09/01/2012 (Agence Europe) - In its capacity as manager of the JESSICA holding fund for Bulgaria, the European Investment Bank (EIB) on Tuesday 3 January concluded an agreement with the European Regional Development Fund, to create an urban development fund which will invest in urban project in six Bulgarian cities. Over the next four years, this urban development fund, established in the form of a stock company held by Société Générale Expressbank, Elana Holding, Elana Investment and Balkan Advisors, which are the members of a consortium headed by Société Générale Expressbank, will invest some €18.8 million granted by the JESSICA holding fund, plus around €37.6 million in own funds (€56.4 million altogether) in the urban projects carried out in the cities of Plovdiv, Varna, Burgas, Ruse, Stara Zagora and Pleven. (OL/transl.fl)