News and Analysis

FMFIB Launched a Public Procurement Procedure for Selection of Financial Intermediaries for Granting Microloans in the Social and Employment Fields

05.04.2017

Fund Manager of Financial Instruments in Bulgaria EAD launched a procedure with 13 lots for awarding a public procurement contract with the subject “Implementation of a Risk-sharing Micro-financing Facility financed with resources from Operational Programme “Human Resources Development” 2014–2020”.

The funds under Operational Programme “Human Resources Development” 2014–2020 are BGN 50 million. The financial intermediaries to be selected by the FMFIB shall provide the required private co-financing in the amount of at least 20% or 30% of each loan depending on the type of the end beneficiary. Financial intermediaries will provide the funds in the form of microloans with values between BGN 5 000 and BGN 48 895 to the target groups of end beneficiaries. Financial intermediaries will apply interest at a rate of 0% to the financial resources granted by the FMFIB.

Supporting youth employment, providing affordable financing for the setting up and development of start-ups, including to persons from vulnerable groups and social enterprises, socially responsible banking, increasing the interest of private financial institutions in segments with limited access to financial services are among the main objectives of the instrument proposed by the Fund. This will help find sustainable solutions to problems relating to social inclusion, reduce unemployment by providing sustainable employment to the most vulnerable groups of society, and address key issues relating to inequality and ethnic discrimination.

The full set of documents is accessible at http://fmfib.bg/bg/buyer/procedure/17.

The deadline for submission of applications for participation is 15 May 2017.

If you require additional information or have questions, please contact us by phone (02 801 40 51) or e-mail p.ognyanova@fmfib.bg.