The Fund of Funds (FoF) presented the progress in implementing its financial instruments for the 2021–2027 programming period during an info event held on March 6 at the Intercontinental Hotel in Sofia. The event focused on the role of financial instruments in Bulgaria and the newly signed mandates under the Environment Program 2021–2027 and the Education Program 2021–2027, co-financed with support from the European Union.

Attendees—including Deputy Minister of Innovation and Growth Krasimir Yakimov, representatives from the European Commission, managing authorities, potential final recipients, associations, and partners of the Fund of Funds—highlighted the increasing importance and effectiveness of financial instruments in the country's development.

According to Nikolay Genchev, Chairman of the Supervisory Board of FoF, financial instruments in Bulgaria have evolved significantly in recent years. Initially started as a pilot in Bulgaria during the 2007–2013 programming period, they have now become a key tool for achieving strategic objectives in innovation, green economy, and regional development. The European Commission presented aggregated results at EU level, noting that Bulgaria is among the leading Мember states in applying financial instruments as a share of total allocated resources.

The Executive Director of FMFIB Pavel Lisev presented the new financial instruments for businesses and the public sector. The resources under FoF management will double in the 2021–2027 period compared to the previous cycle. The main funding areas include: Innovation and digitalization – nearly BGN 670 million, Youth entrepreneurship for students and PhDs– BGN 32.6 million, Regional development – over BGN 510 million, Circular economy – over BGN 530 million, Water and waste sectors – BGN 68.4 million. For the first time, grants and financial instruments will be combined in a single operation to facilitate the access to finance. A key challenge in the new programming period will be the requirement to invest a significant part of the allocated resources outside of the Southwestern region.

Participants in the discussion agreed that Bulgaria is gradually transitioning from grants to financial instruments, making funding more accessible to beneficiaries. The expectation is that this shift will have an even greater impact on the economy in the coming years.