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:  non-active

Financial intermediary

The selection process is closed.