Two participants have submitted offers under each of the procedures for the implementation of the financial instruments “Microfinance for Business Start-ups and Employment” and “Capped Portfolio Guarantee for Strategic Investments”
The Fund of Funds (FoF) has opened the offers submitted under two separate procedures for the selection of financial intermediaries for the implementation of the debt financial instruments “Microfinance for Business Start-ups and Employment” under the Human Resources Development Programme 2021–2027 (HRDP) and “Capped Portfolio Guarantee for Strategic Investments” under the Competitiveness and Innovation in Enterprises Programme 2021–2027 (CIEP), co-financed by the European Union.
Under the procedure for the “Capped Portfolio Guarantee for Strategic Investments”, offers were submitted by:
Bulgarian Development Bank EAD
Eurobank Bulgaria AD
The instrument has EUR 40.2 million in public resources under the CIEP and is structured as a capped portfolio guarantee. Through the guarantee mechanism, the selected financial intermediaries will be able to build a portfolio of nearly EUR 200 million and provide investment loans, working capital loans or financial leasing under more favourable conditions, including reduced financing costs and collateral requirements.
The support is aimed at enterprises investing in strategic technologies under the Strategic Technologies for Europe Platform (STEP) – digital and deep technologies, clean and resource-efficient technologies, and biotechnology – as well as at strengthening industrial capacity in the defence sector, with priority given to dual-use solutions.
Under the procedure for “Microfinance for Business Start-ups and Employment”, offers were submitted by:
Microfund EAD
SIS Credit AD
The public resources for the instrument amount to EUR 17.2 million, of which nearly EUR 7 million is allocated for grants combined with loans under a single financing agreement. The financing is aimed at start-ups, micro-enterprises and social enterprises to promote entrepreneurship, including youth and social entrepreneurship, and the creation of sustainable employment, with a focus on vulnerable groups in the labour market.
Financing of up to EUR 50,000 will be available in the form of investment loans, working capital loans or financial leasing, and up to EUR 25,000 for non-formal education and training. The instrument provides for simplified collateral requirements and lower interest rates and is expected to support more than 600 enterprises.
The submitted offers under both procedures will now be reviewed and evaluated in accordance with the terms and criteria set out in the respective procurement documentation.
