Scientific paper ID 2788 : 2026/4

This article analyzes the application of financial engineering as a strategic lever for sustainable development of urban transport, considering the case of the expansion of the Sofia Metropolitan and the electrification of ground transport. The methodology integrates the Business Model Canvas management approach with quantitative financial analysis to measure the efficiency of public resources. Through the prism of the updated framework of the European Commission (2019/2024), a monetization of the external effects of emission reduction (CO2 and NOx) was carried out. Empirical data confirm a significant multiplier capacity of financial instruments (FI), expressed through a leverage ratio ????=4.5. The analysis proves that hybrid models (a combination of grant and debt capital from the EIB) mobilize resources unavailable in traditional budget procedures. A key scientific contribution is the derivation of the social return indicator ERRpub=4.6., proving that each lev of own municipal contribution generates nearly five times higher public benefit when structured through FI. The study concludes that financial engineering transforms environmental priorities into sustainable business models, ensuring financial resilience for transport operators. The results confirm the metro as a structural determinant in the process of urban decarbonization, generating an annual climate benefit of 7.5 million euros through the saving of over 75,000 tons of CO2.