Fund Manager of Financial Instruments in Bulgaria EAD is
- a single member shareholder company fully owned by the Bulgarian State. The rights of the State are exercised by the Minister for Innovation and Growth, who takes decisions within the remit of the general meeting of shareholders;
- It has a one-tier governance system, consisting of a Management Board and a Supervisory Board. The Management Board consists of three members. They are nominated and elected by the Supervisory Board. The Supervisory Board consists of seven members. They are designated by the Deputy Prime Minister, who coordinates and oversees the management of funds from the European Structural and Investment Funds (ESIFs); the Minister of Labour and Social Policy; the Minister of Finance; the Minister of Regional Development and Public Works; the Minister of Economy; the Minister of Environment and Water Resources and the Minister of Agriculture and Food.
The members of the Management Board are elected by the Supervisory Board on the basis of their professional qualifications, expertise and experience in the management of financial instruments.
The FMFIB’s organisational structure is designed so as to ensure effective performance of the company’s activities in line with the goals of the European programmes providing the public resources earmarked for financial instruments.
The FMFIB team consists of professionals who have experience in structuring and implementing financial instruments in the areas of economic, social and regional development; in private investment funds, corporate finance, investment and commercial banking, risk management, compliance, law, finance and marketing.
The FMFIB staff have gained professional experience in companies such as the EBRD, Citi, KPMG, S&P Ratings, Allianz, BDB, BNP CIB, HSBC, SocGen, as well as the BNB, the European Commission, the Ministry of Finance, the managing authorities of OP Innovation and Competitiveness, OP Regions in Growth and OP Human Resources Development. They were educated in elite universities such as INSEAD, Harvard, LSE, Cass, Pantheon Assas, Paris Dauphine, AUBG, Salford and Osnabrück.