FMFIB
Fund Manager of Financial Instruments in Bulgaria (FMFIB / Fund of Funds)
FMFIB is a multi-sector Fund of Funds established in 2015 by the Bulgarian government to implement financial instruments under shared management, co-funded by the EU.
The Fund of Funds does not invest directly, but through financial intermediaries – credit, financial institutions and fund managers, which in turn mobilize additional private capital and select final recipients.
Currently under programming period 2021-2027, the Fund of Funds is managing resources from 5 programs, covering multiple sectors such as innovation, competitiveness, technology transfer, energy efficiency, digitalization, regional development, education and environment. The Fund is a multi-product platform and holds an instrumental role in delivering national and cohesion policy objectives in SME competitiveness, innovation, digitalization, regional development, circular economy, etc. Overall, FMFIB enhances the access to finance of private companies and public entities.
| AECM accession year | 2025 |
| Legal form | Sole joint-stock company |
| Ownership | fully public – FMFIB is fully owned by the Bulgarian state through the Ministry of Innovation and Growth. It functions as a Fund of Funds for the implementation of EU funded financial instruments (including guarantees) through financial intermediaries |
| Geographical and sectoral coverage | National (Bulgaria) |
| Products | investment loans, working capital, microloans, loan guarantees, equity and quasi-equity financial instruments in combination with grants in a single operation, where applicable. |
| Counter-guarantee | no |
