News

Fund of Funds Credits Household Waste Reduction Projects

For the first time, it will finance final recipients directly

05.11.2020

The Fund of Funds (FoF) has launched a new financial instrument aimed at municipalities and municipal waste treatment companies. The purpose is to enhance the investment potential of private and municipal enterprises to implement projects reducing the household waste deposited in landfills across Bulgaria.

For the first time, the FoF will provide direct financing to final recipients. It will take the form of individual loans granted jointly with banks and administered by them. The Fund will provide up to 90 % of each loan amount.

These investment loans will have a repayment period of up to 20 years and working capital loans related to the investment must be repaid within 5 years. The money must be disbursed and used by the end of 2023.

The loans are available to municipalities that do not use grants for the same purpose, enterprises that have already concluded contracts for the treatment of waste with local authorities, as well as to non-profit organisations running pilot or demonstration projects for which no grants have been awarded.

They can apply for financing by sending the FSF a filled-in application for participation at the following e-mail address: office@fmfib.bg or mailing a hard copy to 1606 Sofia, Edward I. Totleben Blvd. No. 30-32. By applying for participation at the same addresses, commercial banks may submit proposals for co-financing projects. The deadline is 30 June 2021.

Additional information about the financing terms can be obtained by emailing us at office@fmfib.bg or by calling us at 02 801 40 50.

The new financial instrument for investment in the waste sector is funded by the Operational Programme Environment 2014-2020, co-financed by the European Regional Development Fund and the EU Cohesion Fund. It is implemented on the basis of a financing agreement signed between the FoF and the Ministry of Environment and Water.