Financial resource
- BGN 5.25 million public resource for individual guarantees
- expected volume of guaranteed loans for final recipients over BGN 6.6 million
Objectives of the instrument
- Stimulating lending in the sector for sustainable and viable projects;
- overcoming the difficulties of final recipients in their access to finance due to lack of sufficient collateral, high interest rates, high risk assessment of banks.
Final recipients
- enterprises in the sector (fish farming, aquaculture, fish and fish products processing);
- according to the eligibility conditions laid down in the strategies of the Local Fisheries Initiative Groups.
Type of funding
- Financing in accordance with the measures of MFP for:
- productive investments in aquaculture in the 'Recirculation systems' and 'Construction of new and extension and modernisation of existing aquaculture farms' sectors;
- encouraging new aquaculture producers developing sustainable aquaculture;
- implementation of Community-led local development strategies;
- processing of fisheries and aquaculture products.
- investment loans, investment-related working capital financing (excluding revolving credit and/or overdraft) and finance leases;
- stand-alone loans or loans in combination with grants for projects financed under MFP 2014-2020;
- a repayment period from 12 months to 10 years;
- a principal grace period of up to 36 months for investment loans and up to 12 months for working capital loans;
- individual guarantees from the Fund of Funds of up to 80% of each loan granted. with a maximum guaranteed coverage of BGN 1 million, subject to the conditions of the applicable State aid regime.
Source of public resource
Maritime and Fisheries Programme 2014-2020 (MFP), co-financed by the European Maritime and Fisheries Fund 2014-2020.
Current stage of the instrument: investment period completed on 31.12.2023
Financial intermediary
The selection process is closed.