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Bulgaria: Clarification of Call for Expression of Interest to select Financial Intermediaries that will receive resources from the JEREMIE Holding Fund to implement the following Financial Instrument: Growth Capital Fund(s)

  •  
    Date: 18 November 2010 - 17 January 2011

JER009

Reference number: Call for EoI No. JER-009/3

Clarification Document and FAQ to the Call for Expression of Interest No. JER-009/3 to select Financial Intermediaries that will receive resources from the JEREMIE Holding Fund for Bulgaria to implement the following Financial Instrument: Growth Capital Fund(s). 

The aforementioned call stipulated that: “Requests for clarifications from Applicants shall not receive individual replies. Instead, answers to all requests for clarifications received within the relevant deadline will be published together in a clarification Document to be posted on the website www.eif.org, at latest on 20/12/2010”.

In accordance with this provision, we hereby present such a clarification document complemented with frequently asked questions. 

Capitalised expressions utilised below shall have the meaning attributed to them in the above mentioned Call for Expression of Interest, unless otherwise defined below or the context requires otherwise. Questions may appear as they have been received without any editing from EIF; they also appear in a random order. 

Question 1

In the case of expression of interest from a consortium, would it be acceptable by the EIF if one of the members is a state owned entity?

 

EIF Answer

There is no set expectation on the consortium structure of the Applicant, as long as the Financial Intermediary fulfils the criteria listed in the Call and is suited for the task.

Question 2

Would it be acceptable by the EIF if the applicant is a company in which one of the shareholders is a state owned entity?

 

EIF Answer

There is no set expectation on the shareholders structure of the Applicant, as long as the Financial Intermediary fulfils the criteria listed in the Call and is suited for the task.

Question 3

Would it be acceptable by the EIF if state owned companies act as private investors in the financial instrument? 

 

EIF Answer

The Fund Manager should raise at least 50% of the Financial Instrument from Private Investors and the portion contributed by a state owned company may potentially not be considered private funding.

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