Program "Development of the Regions" 2021-2027

Under European law, a 'financial instrument' means a form of support provided through a structure through which financial products are made available to final beneficiaries.

In accordance with Article 58(2) of REGULATION (EU) 2021/1060 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 24 June 2021 laying down provisions of general application, financial instruments shall provide support to final beneficiaries only for investments in tangible and intangible assets and for current assets which are expected to be financially viable and for which there is insufficient financing from market sources. Such support shall be in accordance with the applicable Union State aid rules.

In Bulgaria, financial instruments financed with European funds under shared management are implemented through a Holding Fund. The Holding Fund is established as a separate financial resource from the programmes. The entity implementing the Holding Fund is the "Fund Manager of Financial Instruments in Bulgaria" - EAD - a single commercial company with state participation in the capital (sole proprietorship company with state participation in capital).