Suitable financial instruments for you

Indicative budget of the instrument:

EUR 112.9 M

Portfolio guarantee with a loss ceiling with the possibility of combining the financial instrument with non-repayable financial assistance in a single operation.

Goals of the instrument:

Promoting energy efficiency and reducing greenhouse gas emissions ("Energy Efficiency"):

• Implementation of energy efficiency measures based on energy audits recommendations;

• Introduction and certification of energy management systems;

• Introduction of monitoring and control systems for energy consumption;

• Stimulating the use of electricity, heat, and cooling energy from renewable sources for self-consumption, including storage systems.

Promoting the transition to a circular and resource-efficient economy ("Circular Economy"):

• More efficient use of natural resources in production, including reducing the use of primary raw materials;

• Increasing product durability or reusing it;

• Improving recycling capabilities, reducing the use of non-recyclable materials, and reducing the content of hazardous substances in products;

• Energy systems produced from renewable sources for self-consumption;

• Waste management in enterprises.

Source of public resources:

"Competitiveness and Innovation in Enterprises" Programme 2021-2027.

Current stage of the instrument:

Review and evaluation of offers

Budget of the instrument

EUR 30 million

Goals of the instrument

• Support for startups in the pre-seed and seed phases to develop their product, prototype, and conduct initial market testing;

• Providing initial venture capital to help entrepreneurs validate their business model and advance to the next investment stage;

• Stimulating the entrepreneurial ecosystem by increasing the number of new technology and innovative companies in Bulgaria.

Source of public resources

Program "Competitiveness and Innovation in Enterprises" 2021-2027

Current stage of the instrument

Selected financial intermediary

Instrument Budget
EUR 34.5 million

Objectives of the Financial Instrument

• Support for companies from various sectors with a view to commercialization and market establishment, as well as support for high-growth companies (e.g., with employee/turnover growth of more than 20% per annum over a period of three years).

• Support for accelerated development and international expansion, including entering new markets and increasing production or technological capacity.

• Preparing companies for subsequent investment rounds, attracting international investors, and scaling up the business.

Source of Public Funding
Programme “Competitiveness and Innovation in Enterprises” (PCIE) 2021–2027.

Current stage of the instrument:

Selection of financial intermediary

Indicative budget

EUR 6.18 million

Objectives of the instrument

The main objective of the financial instrument is to stimulate lending to final recipients under the PMFA by providing loans through selected financial intermediary, thereby addressing sector-specific difficulties (lack of access to finance, high interest rates) and helping to overcome problems such as lack of collateral, high credit risk, etc.

The target final recipients (FR) are micro, small and medium enterprises, large enterprises, registered small-scale coastal fishermen, fishermen's organizations and enterprises in the sector, municipalities and other public institutions. A combination of FI and grant is envisaged in a single operation to provide technical support. Grant is provided directly to FRs or for the benefit of FRs for the costs of preparing the project proposal, activities to promote FI, measures to increase the capacity of FRs, training, etc.

The financial instrument could also be combined with grant funding received under the PMFA as part of two separate operations.

Source of public funding

Programme Maritime, Fisheries and Aquacultures 2021-2027

Current stage of the instrument

Structuring and preparation of tender pack

Indicative budget of the instrument

€40.2 million

Objectives of the instrument

The public resource for the Financial Instrument is aimed at supporting final recipients in achieving the specific objectives of the Programme in the following areas:

• Support for investments contributing to the objectives of the Strategic Technologies for Europe Platform (STEP);

• Improving industrial capacity to strengthen defense capabilities, giving priority to dual-use capacity.

The instrument is targeted at companies operating primarily in strategic sectors with high added value, including, but not limited to, digital and deep tech technologies, cybersecurity, quantum technologies, computer and electronic technologies, the software industry, biotechnology, and clean technologies, including those related to critical medicines, with a focus on improving availability, supply, and production capacity and reducing vulnerabilities.

Source of public funding

“Competitiveness and Innovation in Enterprises” Programme 2021–2027 (PCIE), co-financed by the European Regional Development Fund (ERDF).

Current stage of the instrument

Selection of financial intermediaries

Indicative budget of the instrument:

€30 million

Objectives of the instrument:

The objective of the fund is to provide support through equity and/or quasi-equity investments to enterprises developing technologies within the scope of STEP, by fostering the creation and growth of companies advancing critical technologies and strengthening industrial capacity in the field of defense, as well as the production of critical technologies and dual-use products.

The fund will build a diversified portfolio of companies at various stages of development.

It will focus on enterprises operating in high value-added strategic sectors, including, but not limited to, digital and deep-tech solutions, cybersecurity, quantum technologies, computer and electronic systems, software, biotechnology, and clean technologies.

Source of public funding:

“Competitiveness and Innovation in Enterprises” Programme 2021–2027 (PCIE), co-financed by the European Regional Development Fund (ERDF).

Current stage of the instrument:

Structuring and preparation of tender pack

Instrument Budget
EUR 40.25 million, of which EUR 5 million in the form of grant funding, including in a single operation.

Objectives of the Financial Instrument

• Accelerating the technological transformation of Bulgarian enterprises and facilitating access to capital for investments in Industry 4.0 digital technologies, supporting projects with high added value and innovative potential.

• Reducing barriers to market entry for innovative solutions. By combining equity financing and grant support, the fund assists companies in the high-risk phases of projects—such as proof of concept, MVP development, and technological readiness—aimed at achieving market realisation.

Source of Public Funding
Programme “Competitiveness and Innovation in Enterprises” (PCIE) 2021–2027.

Current stage of the instrument:

Selection of financial intermediary

Indicative budget of the instrument:

EUR 47.81 M

Implementation mechanism

The financial instrument is intended to be implemented in the form of First loss portfolio guarantee, which secures partial credit risk coverage on the financing provided by the financial intermediaries to eligible final recipients.

Goals of the instrument:

To provide investment/working capital financing and/or financial leasing at preferential terms for the purpose of:

• Stimulating enterprises to undertake investments for the implementation or creation and development of projects for digital technologies and solutions in the field of Industry 4.0, for optimization and automation of existing processes.
• Improving the process efficiency in enterprises through the use of the latest and often interconnected digital technologies, which are targeted at the last four levels of digitalization, in which the technologies required for Industry 4.0 are being developed for rapid digital transformations in design, production, operation, service of production systems and products, etc.
• Increasing the productivity and competitiveness of enterprises through the implementation of new and technological developments, such as: the application of information and communication technologies (ICT) in the production process, artificial intelligence, digital systems for monitoring and control of physical processes and systems, industrial robotics, network communications, collection and processing of large data sets, cloud computing, etc.

Source of the public funds:

Program "Competitiveness and Innovation in Enterprises" (CIE) 2021-2027, co-financed by the European Regional Development Fund and the state budget.

Current stage of the instrument:

Structuring and preparation of tender pack

Financial resources

57 million euros, of which 9.43 million euros in the form of grants, including in a single operation.

Goals of the instrument

• Addressing the key challenges facing Bulgaria's development, including insufficient public and private investments in research and development activities, leading to a comparatively low innovation capacity of the economy;
• Supporting the building of modern research infrastructure in the country, facilitating effective collaboration between members of the scientific community and business to apply the scientific products in practice, and attracting and attaining high-quality personnel;
• Strengthening and developing technology transfer in public research organizations, existing technology transfer offices, and among different participants and stakeholders in the scientific innovation ecosystem.
  
  

Source of public resources

Program “Scientific Research, Innovations, and Digitalization for Smart Transformation” 2021-2027, co-financed by the European Regional Development Fund and the state budget.

Current stage of the instrument:

Selection of financial intermediary

Indicative budget of the instrument

EUR 262.3 M

Implementation mechanism

Capped portfolio guarantee, stand-alone guarantees and/or risk-sharing loans with the possibility to implement a financial instrument in combination with a grant in a single operation.

Objectives of the instrument

To provide debt financing for projects of final recipients from the private and public sectors, incl. in combination with a grant, aimed at promoting and developing measures that boost:

• economic activity,
• investments in new/existing industrial parks,
• green urban environment,
• sustainable urban mobility,
• health and social infrastructure,
• educational infrastructure,
• tourism, sports, and culture,
• energy efficiency of public and residential buildings.

Source of public resource

Development of Regions Programme 2021-2027 and Competitiveness and Innovation in Enterprises Programme 2021-2027, co-financed by the European Regional Development Fund

Current stage of the instrument

Selected financial intermediaries

Budget

EUR 32.17 M

Goals of the instrument

• Stimulating entrepreneurial activity for the creation of enterprises based on innovations that develop high added-value products;
• Increasing the innovation potential and creating a sustainable ecosystem to support SMEs with high innovation potential;
• Improving the internal innovation capacity of enterprises;
• Enhancing access to knowledge and technologies, as well as the development of an innovation ecosystem in less developed regions;
• Improving the level of innovation penetration and accelerating the transition to a knowledge-based economy.

Source of public resources

Program “Competitiveness and Innovation in Enterprises” (2021-2027).

Current stage of the instrument

Selected financial intermediary

Indicative budget of the instrument:

EUR 162.23 M

Portfolio guarantee with a loss ceiling with the possibility of combining the financial instrument with non-repayable financial assistance in a single operation.

Goals of the instrument:

Promoting energy efficiency and reducing greenhouse gas emissions ("Energy Efficiency"):

• Implementation of energy efficiency measures based on energy audits recommendations;
• Introduction and certification of energy management systems;
• Introduction of monitoring and control systems for energy consumption;
• Stimulating the use of electricity, heat, and cooling energy from renewable sources for self-consumption, including storage systems.

Promoting the transition to a circular and resource-efficient economy ("Circular Economy"):

• More efficient use of natural resources in production, including reducing the use of primary raw materials;
• Increasing product durability or reusing it;
• Improving recycling capabilities, reducing the use of non-recyclable materials, and reducing the content of hazardous substances in products;
• Energy systems produced from renewable sources for self-consumption;
• Waste management in enterprises.

Source of public resources:

"Competitiveness and Innovation in Enterprises" Programme 2021-2027.

Current stage of the instrument:

Selected financial intermediaries

Budget of the instrument

EUR 40 million

Goals of the instrument

• Providing capital for more mature companies with a proven business model and significant growth potential;

• Support for scaling up operations, including acquisitions, new product development, and market expansion;

• Increasing the competitiveness of Bulgarian enterprises and creating sustainable companies with an international presence.

Source of public resources

Program "Competitiveness and Innovation in Enterprises" (CIE) 2021-2027

Current stage of the instrument

Selected financial intermediary

Financial resources

• public resources in the amount of EUR 182.5 million;

• additional private co-financing from the financial intermediaries.

Goals of the instrument

• improve urban environment (including public transport, culture and sport infrastructure);

• stimulate economic growth in the regions through the development of economic development zones in the cities, improved energy efficiency of single-family residential buildings and student dormitories;
• promote the development of tourism related to immovable cultural heritage of national or world importance.

Final recipients

• municipalities and municipal enterprises;
• private companies;
• public/private partnerships;
• private citizens.

Type of financing

• low-interest investment loans and working capital loans, including non-refundable VAT;
• up to EUR 20 million for urban environment and up to EUR 10 million for regional tourism;
• a repayment term of up to 20 years and a grace period of up to 3 years;
• guarantees for the financial intermediaries of up to 80% per individual loan and up to 25% of the entire portfolio;
• low interest rates;
• no management fee chargeable on the public resources;
• relaxed collateral requirements;
• a low level of self-financing by final recipient (0% -15%);
• for certain sectors, an option to combine the financial instrument with grant support.

Source of the public resources

Operational Programme Regions in Growth 2014 — 2020 co-financed from the European Regional Development Fund

Current stage of the instrument: reinvestment period until the end of 2031

Financial intermediaries

For the regions of Southern Bulgaria and the City of Sofia, the Fund for Sustainable Cities Consortium (FSC):

For the region of Northern Bulgaria, the Regional Urban Development Fund (RUDF)

The Fund of Funds invests additional resources in urban environment under the Joint European Support for Sustainable Investment in City Areas initiative (JESSICA). Further information is available here.