In recent years, Bulgaria has become a regional leader in financial innovation for Eastern Europe, and the Fund of Funds provides a holistic range of support to achieve high-tech and sustainable growth. This was shared by Executive Director and Board Member Pavel Lisev during the annual Banking Today event, organized by Investor Media Pro.
For another consecutive year, the forum brought together representatives of the banking and financial sectors, along with regulatory bodies in Bulgaria, for a joint discussion and analysis of trends and future developments in the banking, fintech, and insurance sectors in the country. Leading experts discussed sector forecasts and expectations for 2025, the business financing climate in Bulgaria, financial innovations, regulations, and the power of AI. Pavel Lisev participated in the "Business Finance" panel alongside experts from the European Investment Fund, Sirma Group Holding, UniCredit Bulbank, UBB, and KBC Group.
During the panel discussion, Pavel Lisev explained how the new financial instruments developed for the 2021-2027 programming period will increase access to capital for innovative enterprises and help to maintain Bulgaria’s leadership position as a financial innovator in the region. He shared with the representatives from the banking sector and the business that in the previous programming period, the Fund successfully fulfilled its mandates, which has raised expectations for continued support from the Fund of Funds during the new period.
"In the new multiannual framework, we are doubling the funds we manage under European programs. The focus will be on in-house innovations from the enterprises and their digitalization .We are also envisaging a technology transfer instrument. There will be significant measures in the field of the circular economy, as well as instruments supporting urban development. Access to financing will also be provided to support entrepreneurial skills among students and PhD candidates, with the possibility of participation from university professors," Lisev said during the forum.
For more information on where the Fund of Funds will direct its resources in the new 2021-2027 multiannual framework, and how financing will be provided for projects with innovation potential, including those originating from scientific organizations, you can read the interview with our Executive Director, conducted just days before the Banking Today forum, on Investor.bg.
