Over 2,700 companies have been financially supported by the Fund of Funds to date

A fund manager of financial instruments in Bulgaria (also known as the Fund of Funds) presented today the possibilities for innovative solutions for investments and joint investments, which are available for the sustainable growth of Bulgarian enterprises. This happened at a joint event organized by the American Chamber of Commerce in Bulgaria (ACC) and UniCredit Bulbank, the chamber announced. More than 60 representatives of senior and management positions of ATC members gathered at the UniCredit International Center to learn more about these opportunities and develop their contacts with the organizers.

"The Fund of Funds structures and manages financial instruments under the various European programs, and today we will introduce you in detail both to what has been achieved so far and to our new products, through which we will promote the upward development of business in the country. During the new program period, we will manage BGN 2 billion public resources, with which we will continue to build a sustainable entrepreneurial environment in an increasingly wide range of areas such as innovation and high technologies, circular economy, green financing, resource and energy efficiency, technology transfer, Industry 4.0 and digital transformation. We have supported more than 2,700 companies so far and we continue to upgrade - you will hear some of the success stories today from our fund managers, and others will still be written in the future, and I hope you will also participate in them" - he said at the opening of the event Nikolay Genchev, Chairman of the Supervisory Board of the Fund of Funds.

"Among the main priorities of the American Chamber of Commerce in Bulgaria is the sustainable development of the investment climate and the business environment in our country. Its practical application goes through the promotion of innovation and digitization of small and medium-sized enterprises. The available resource in the European programs available to the Fund of Funds is among the engines for the implementation of projects through which the Bulgarian business can maintain and upgrade its market shares. For our organization, it is important that such partnerships - with the Fund of Funds and with our patron member UniCredit Bulgaria - benefit our members and have their continuation in the future, of which I am confident." - pointed out Ivan Mihailov, CEO, American chamber of commerce in Bulgaria.

"UniCredit Bulbank creates opportunities for growth in all sectors of the economy as we have expertise and know the needs of customers. We develop our long-term relationships and are currently the bank with the largest market share in corporate financing. Over 70% of international companies in the country are already our clients, and we process over 100 payments per minute." - Borislav Bangeev, Director of Corporate Banking and member of the Board of Directors of UniCredit Bulbank, told the audience.

"Our customers appreciate the opportunity to use more and more of our products through digital channels, and our online banking is becoming a virtual ecosystem for business needs," he added.

In the first information panel, the members of the Management Board of the Fund of Funds Victoria Hristova, Pavel Lisev and Biser Petkov made a synthesized overview of the financial instruments for the previous program period 2014-2020 and outlined the framework of the products planned for implementation in the current period 2021-2027. Some of the main highlights of the presentation focused on the support provided so far through equity and quasi-equity investments under OPIC 2014-2020, the sector portfolio of the investments made, the remaining resource to be absorbed from the previous program period, the framework of the new mandates concluded and the future instruments, aimed at generating growth for businesses in different areas and stages of development.

The experts from the Fund of Funds Kalin Brankov, Head of the Debt Financial Instruments Department and Konstantina Voynova, Head of the Equity Financial Instruments Department, presented through the prism of a deeper level of detail and specificity the opportunities that the Fund provides to Bulgarian businesses with a horizon 2021-2027.

The event was also attended by Kalin Marinov, Deputy Director of the Main Directorate "European Funds for Competitiveness", Ministry of Innovation and Growth.