The FMFIB Advisory Board (AB) provides support to the Sole Owner and the Board of Directors (BoD) in their activities by providing opinions on matters related to the implementation of the Company’s strategic objectives, the FMFIB being a fund of funds within the meaning of Regulation (EU) 1303/2013. The Board pools together expertise and capacity from both the public sector, in the form of the Managing Authorities that place resources under the management of the FMFIB, and the key private sector stakeholders that implement the financial instruments in the market. The AB serves as an active forum for the exchange of ideas and good practices.
The AB provides a preliminary opinion to the Sole Owner on the following matters:
1. Approval of the annual financial statements after certification by the appointed certified auditor or specialised audit firm;
2. Approval of the Company's business programme and the key performance indicators included in it with a view to meeting financial and non-financial targets;
3. Strategic goal setting and performance evaluation of the Company and its management bodies;
4. The information included in the BoD report is required under Article 23 and the BoD report under Article 27, paragraph 1.
The AB provides a preliminary opinion to the Board of Directors on the following matters:
1. Preparation and adoption of a preliminary assessment of the demand for and supply of financial products;
2. Determining the size and type of financial instruments in accordance with the objectives set out in the relevant EU programmes;
3. Structuring the financial instruments implemented by the Company and drawing up their technical specifications;
4. Progress on the implementation of the financial instruments implemented by the Company as a fund of funds; and any other matters on which an opinion has been sought by the Board of Directors or the Sole Owner of the equity.
5. It makes proposals to the Sole Owner in relation to setting the strategic goals of the Company.
Advisory Board members:
1. Dr. Ivan Ivanov, Minister of Agriculture;
2. Desislava Boneva, Deputy Minister for Innovation and Growth;
3. Deliana Ivanova, Deputy Minister of Regional Development and Public Works and Head of the Managing Authority of the Operational Programmes for Regional Development 2007-2013 and Regions in Growth 2014-2020;
4. Ivan Krastev, Deputy Minister of Labour and Social Policy;
5. Maria Achkova, Deputy Minister of Environment and Water Resources;
6. Ivaylo Yaydzhiev, Deputy Minister of Finance;
7. Desislava Simeonova, Management Board Member, Association of Banks in Bulgaria;
8. Maria Marinova, Executive Director, Bulgarian Private Equity and Venture Capital Association.