FLAG presented the opportunities for improving urban infrastructure and developing smart cities and regions during the Sixteenth Annual Meeting of Local Authorities, organized by the National Association of Municipalities in the Republic of Bulgaria, which is taking place from 13 to 15 October in the Albena resort. This year's event is under the theme "Investments, Innovations, Citizen Participation" and was attended by nearly 400 representatives of municipalities.
FLAG Executive Director Nadya Dankinova participated in the discussion forum "Innovations and Smart Cities" and emphasized the role of FLAG in supporting the improvement of municipal infrastructure, improving the quality of life and developing sustainable cities and regions - inclusive and attractive for business and life. For the period 2009-2024, the Fund has financed 1520 projects, 2.26 billion BGN in approved loans, and nearly 220 municipalities that have been its clients over the years.
Nadya Dankinova shared about the various mechanisms through which FLAG supports local authorities, providing diverse and flexible solutions and products, as well as the necessary expert assistance. FLAG also works to improve financial discipline, as well as to increase expertise in working with projects. Last but not least, municipalities find in FLAG timeliness and correctness in providing financing, which is the basis for the trust built in the Fund.
“It is necessary to make maximum effective use of the available, but always insufficient, public resources to attract private financing,” said the executive director and pointed out the extremely successful and fruitful cooperation with international financial institutions and the largest commercial banks in Bulgaria. This reliable partnership provides an opportunity to attract private capital to the public resource, allows for joint management of financial instruments and exchange of experience and expertise in the assessment of infrastructure projects.
During the event, Nadya Dankinova also presented the new tools and products for the implementation of projects to achieve the goals of transition to clean energy and circular economy. One of them is the financial instrument FLAG-FICET under the LIFE program, which supports clean energy projects of public authorities with technical assistance and investment loans. “These are investments that contribute to improving the quality of life, energy security and creating readiness to overcome challenges,” summarized the executive director. And added: “Only smart and thoughtful decisions with the will and determination to implement them can turn more and more territories into smart and intelligent cities, villages and regions.”
Traditionally, FLAG has a significant participation in the Annual Meeting of Local Authorities - the largest municipal forum that brings together representatives of local authorities, central government, business, partner organizations and foreign guests. This year, everyone can also visit our stand and learn more about the opportunities that the FLAG Fund provides to Bulgarian municipalities for financing projects aimed at sustainable development and modernization.