The Fund of Funds produces a national plan for the management of resources earmarked for financial instruments (FIs) under operational programmes co-financed from the European Structural and Investment Funds (ESIFs). This helps achieve more efficient and sound management and economies of scale, and build professional expertise at the national level.
With the expansion of the scope and the significant increase in the volume of funds earmarked for financial instruments for the 2014-2020 programming period, which is expected to continue as a trend during the next programming period, 2021-2027, the complexity from the viewpoint of the European citizens, businesses and the regions is growing and could pose a challenge. At the same time, the European Commission and the Member States have committed to ensure simplification, flexibility and reduction of the administrative burden.
The Coordination Unit, which is part of the structure of the Fund of Funds, was set up on the basis of a Memorandum of Understanding between the Republic of Bulgaria, represented by the Ministry of Finance, and the European Investment Bank (EIB). Its purpose is to operate successfully as a single point of access to the complex system of European funds, programmes and instruments implementable in Bulgaria. Early identification of financing opportunities from the ESIFs and the European Fund for Strategic Investments (EFSI), including blending, as well as the provision of coordination among the stakeholders in the public and the private sector, can provide an impetus to the implementation of project ideas and proposals, as well as the overall investment process in Bulgaria.
The synergies and complementarity among financial instruments, financed using funds from ESIFs, other EU facilities (financial instruments and grant financing), programmes funded with public resources at the national level, and under other EU programmes will serve as a catalyst for public and private resources and will enhance access to financing for final recipients, thus helping promote economic growth and employment, provide for a more favourable business environment and contribute to achieving the key goals of the Europa 2020 Strategy for smart, inclusive and sustainable growth.
The Coordination Unit responds to a wide range of enquiries about project ideas, proposals and investment plans at various stages of development or readiness by providing expert opinions and advice on financing opportunities, including blending, concerning the public and the private sector. It is also possible to obtain additional support, assistance and orientation in terms of the relevant national and European institutions that have competence in terms of the implementation of a given project or its financing.
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