Technical assistance for setting up of a Bulgarian Fund of funds for managing financial instruments (“FIs”) under EU operational programmes 2014-2020



TCRS Number:


Business sector:

Sustainable Resources and Climate Change

Notice type:



TC Com approved

PSD disclosed:

03 May 2016

Project Description

The Government of Bulgaria seeks to increase the rate and quality of absorption of the EU Structural Funds through improved management, leveraging of resources and faster implementation and to this end has asked the EBRD, the European Investment Bank (the “EIB”) and the World Bank Group to assist it in this effort through the provision of advisory services related to the development and implementation of a sustainable, credible and market-oriented structure for the efficient and effective implementation of the EU Structural funds.

The EBRD, together with the other IFIs have agreed on detailed terms of reference for the Project (i.e. for the advisory services required for the achievement of the above objective) and have allocated between themselves the different assignments specified in the terms of reference as agreed.  As part of this process, the EBRD has been mandated to provide advisory services to help them structure FIs under OP Environment plus to develop a corporate governance structure for the Fund of Funds, which will ultimately manage these FIs.  The Bank’s ultimate goal is to provide investments alongside EU Structural Funds for investments in water operators.

Project Objectives

Bulgaria's Operational Programme – “Environment” (“OP Environment”) to achieve its respective Operational Programme objectives and thus contributes to the Europe 2020 priorities.

TC Recipient Information

Government of Bulgaria

Project Cost

€ 659,559

Funding Summary

The project was funded by EU Structural Funds provided by the Government of Bulgaria

Any competitive selections for business opportunities relating to this project will be published on the EBRD's website: Consultancy Procurement Opportunities.

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.

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