News and Analysis

Four Applicants Join the Race to Manage the Risk-Sharing Micro-Finance Facility Financial Instrument

16.10.2018

Today, 16 October 2018, the Fund of Funds held a public session at its offices, to open the applications to participate in the public procurement procedure for a financial instrument under the Risk-Sharing Micro-Finance Facility. The facility is financed under Operational Programme Human Resource Development 2014-2020 (OPHRD).

Its total budget amounts to BGN 26.4 million, allocated in nine lots, with financial resources ranging from BGN 1 million to BGN 6 million. Financing will be made available in the form of micro loans that are designed to support the establishment and development of start-ups. In addition to the resources provided by the Fund of Funds, the financial intermediaries will provide co-financing for each loan, in an amount of at least 10 %. The funds from the financial instrument will also be used to provide support to enterprises owned by persons from certain vulnerable groups (unemployed for over 6 months, young people aged 29 or less, and people with disabilities).

The following entities applied to participate in the tender procedure:

-          KVKKChZS Solidarnost: lot 1;

-          SiS Credit AD : lots 5, 6, 7;

-          Microfund AD : lots 6, 7, 8, 9;

-          First Investment Bank AD: for all lots.

The next step is to examine the applications; then, applicants that are found to be eligible will be invited to submit their initial offers.