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UniCredit Bulbank is the only managing bank of the Fund for Local Authorities and Governments (FLAG) since its establishment in 2008 until the end of 2017. In 2014 the bank was authorized for the third consecutive mandate in accordance with the Public procurement Act.



UniCredit Bulbank supports Fund FLAG’s activities analyzing and evaluating the credit applications as first level of approval and administrates the approved loans.

Fund FLAG provides via the managing bank both short-term and long-term loans for execution of projects to municipalities, associations or municipality associations (incl. associations of water-supply companies), corporations with municipal or state-municipal partnership and for preparation of projects for municipalities only.

Terms of financing – in accordance with the internal rules of Fund FLAG. The terms and conditions for financing are available at Fund FLAG’s website.

Whom is it Suitable for?

Fund FLAG grants loans to beneficiaries and/or their associated partners who prepare or execute projects concerning:

  • Operational programmes
  • Rural development programme
  • Cross-border cooperation programme
  • Other programmes and financial mechanisms funded by the European Union
  • Other international programmes focusing on modernizing and expanding municipalities’ infrastructure and as well as on creating sustainable and modern local communities

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