On the premises of the Fund Manager for Financial Instruments in Bulgaria in 30-32 E. Totleben Blvd. in Sofia, the committee for the selection financial intermediaries opened the proposals received in the tender in a public event attended that was also attended by media representatives. Under the tender a public procurement contract will be awarded in respect of the implementation of a financial instrument for shared-risk provision of microcredits to be financed by Operational Programme Investment and Competitiveness 2014—2020 under 13 lots. This is the first call for the selection of financial intermediaries, which the FoF has conducted under the Public Procurement Act. Tenders for a total of 10 lots were received within the time period specified by the Contracting Authority, including from leading banks and financial institutions.

For 3 lots, the time period for the submission of tenders was extended until 29 May 2017 because no proposals were received by the expiry of the initial deadline.

A total of BGN 50 mln. in financing from Operational Programme Human Resources Development 2014—2020 will be available. The financial intermediaries to be selected in the tender will extend microcredits in the range of BGN 5 000 up to BGN 48 895 to the target groups of final beneficiaries.

The main goals to be achieved through the microcredits the financial intermediaries will extend to final beneficiaries include supporting youth employment, ensuring access to financing to small start-up businesses, socially responsible banking, and drawing the attention of private financial institutions to segments with limited access to financial services. The final beneficiaries eligible to obtain microcredits include start-up and existing social enterprises; start-ups of entrepreneurs from a vulnerable group as defined in the tender documentation; start-up microenterprises of persons aged up to 29 years, including NEETs (persons not in employment, education or training) established throughout Bulgaria, except the Southwestern region.

For further information and enquiries, please call (+359 2) 801 4050 or send an e-mail to office@fmfib.bg.