FLAG has launched the first call for provision of technical assistance for projects under the clean energy transition financial instrument FLAG-FICET, which provides an opportunity for grant technical support and an investment loan for their implementation. The innovative instrument was presented by FLAG Executive Director Ms. Nadya Dankinova at the National Meeting of Municipal Financiers - the largest and longest-running expert event of the National Management Board of the Republic of Bulgaria, which took place from 12 to 14 June in the Golden Sands resort.
FLAG-FICET is the innovative response to the challenges facing local authorities in the transition to clean energy. Its main goal is to provide financing for sustainable projects through a combination of investment credit and grant technical assistance to stimulate public investments.
“We would like and are actively working to ensure that this pilot model is successful so that we can continue the conversation about creating sustainable instruments with built-in technical assistance, and why not with a combination of grants. What we want to do is, together with all the funding institutions, to create a little more structure and order so that municipalities can successfully implement their strategies. Because where strategic documents are implemented and each project builds on and complements the next, and does not stand alone, there is a much greater effect and these regions and communities develop much more dynamically and sustainably”, said Ms. Dankinova.
As eligible final recipients under FLAG-FICET can benefit municipalities and municipal commercial companies, state-owned commercial companies and companies that provide public services. They must be from the sectors of energy efficiency, renewable energy, including photovoltaic parks, and use of the potential of thermo-mineral waters.
“We have always dreamed of municipalities in Bulgaria having access to adequate technical assistance, which is provided by European financial instruments. No matter how much European money we have, if it is not backed by competently made technical projects that meet the requirements of European financial institutions, we will continue to build in pieces and there will be no development of the community. These are opportunities for every municipality, because through FLAG they are translated into Bulgarian and easily accessible for use,” added the Executive Director of the National Agency for Municipalities and Regional Development, Ms. Silvia Georgieva.
The FLAG-FICET financial instrument has been developed within the framework of the FLAG - Financial instrument for clean energy transition (FLAG FICET) project, which aims to support municipalities in Bulgaria in preparing to meet the challenges of climate change mitigation and adaptation in the next decade through investments in energy efficiency and clean energy. The project has been approved for funding under the LIFE programme, scheme LIFE-2021-CET-PDA: Disruptive PDA – Technical Assistance to advance market boundaries for sustainable energy investments.
