ELANA Investment Corporate Presentation

1. ЕLANA Investment
www.elana.net

2. Leading EU funding consultant
ELANA Investment was founded in 1999 г. to provide expertise on EU funding and support business and other municipality institutions
in raising funds for their investment programmes and development.
ELANA Investment is currently one of the leading consultants of the Bulgarian business and public administration in developing
successful investment projects and business plans funded by the EU operational programmes and other sources. The company is part
of the family of market leaders within one of the largest local non-banking financial institutions ELANA with 20-years of history on the
Bulgarian financial and consultancy market.
The service:
Provides consultancy to agricultural producers, enterprises and public administration in developing successful investment projects and
business plans for applying for EU funding or for grants at international organisations. Provides technical assistance in management of
the project implementation.
Public engagement:
ЕLANA Investment is a founder of the Bulgarian Association of EU Programmes’ Consultants (BAEPC) – Kristina Tsvetanska, the
executive director of the company, is the deputy chairperson of the association. ELANA Financial Holding is a member of the
Confederation of Employers and Industrialists in Bulgaria (CEIB) – ELANA Investment experts are involved in analyses and
development of proposals for improvements of EU funding procedures in the country on behalf of CEIB.
ELANA Investment is certified by the ISO 9001:2008 standard with UKAS (UK)
accreditation and ANAB (USA) accreditation: Certificate No. BG13007Q ISO 9001:2008
www.elana.net

3. Accomplishments
ELANA Investment highlights of accomplishments:
 Over 500 enterprises, agricultural producers and municipalities have acquired EU funding for investing in their
business development through ELANA Investment consultancy;
 Over BGN 200 mln of EU funding was raised for Bulgarian business and municipalities through ELANA Investment
expertise.
 The first JESSICA agreement with the European Investment Bank as part of a consortium with the leading partner
Societe Generale Expessbank for managing the Regional Urban Development Fund with JESSICA resources.
 Over 180 successful projects within EU Structural Funds for Bulgaria with aid of approx. BGN 100 mln raised
within 4 years;
 Over 120 successful projects within the EU pre-accession programmes – over BGN 75 mln raised;
 Managed the implementation of the first Phare technical assistance project in Bulgaria (EUR 3 mln) for providing
support to 150 SMEs.
www.elana.net

4. Public engagement
 ELANA Investment is a founding member of Bulgarian Association of EU Programmes’ Consultants (BAEPC).
The association is active on cooperation with the managing bodies of the EU funding programmes in Bulgaria
towards improvement of procedures and successful absorption.
 ELANA Investment experts is involved in the process of improvement and programming of EU funds with analyses
and proposals on behalf of BAEPC and the Confederation of Employers and Industrialists in Bulgaria
(CEIB).
 Kamen Kolchev, Chairman of the Board of ELANA Investment and ELANA Financial Holding is a member of the
Monitoring Committee of the Rural Development Programme and OP Competitiveness.
 Kristina Tsvetanska, Executive Director, is the Deputy Chairperson of BAEPC. She is a member of the regular
working groups within the monitoring committees of the Rural Development Programme and OP
Competitiveness. She is a member of the CEIB EU Policy Committee.
 Teodora Ovcharova, Board member, is part of the working groups within the monitoring committees of the
Rural Development Programme and OP Competitiveness.
 Stoyan Nedev, Chief EU Programmes expert, is the secretary of the working group within the National rural
network, Ministry of Agriculture and Food.
www.elana.net

5. Highlights of experience
In the period of 2000 – 2011 ELANA Investment has developed and managed successfully projects of enterprises,
agricultural producers and municipalities helping them acquire over BGN 200 mln aid in their investment programmes
through applications to EU Structural funds or pre-accession programmes:
Highlights of experience with EU Structural Funds
 142 approved projects within the Rural Development Programme – implemented aid for investment in
agriculture and municipality improvements at the amount of BGN 47 mln;
 39 approved projects within OP Competitiveness - implemented aid for investment in Bulgarian manufacturing
and production at the amount of BGN 41 mln;
 Regional Urban Development Fund (RUDF) – ELANA Investment is a shareholder within the consortium that
manages RUDF – the financial product of the urban development instrument JESSICA according to an agreement
with the European Investment Bank. The consortium includes the leading shareholder Societe Generale
Expressbank, ELANA Investment, ELANA Holding and Balkan Advisors. BGN 110 mln will be invested by 2015 in
urban development of the 6 major cities in Bulgaria.
 1 approved project within OP Regional Development – total value of BGN 5 mln for introduction of energy
efficiency measures in Blagoevgrad Municipality;
 5 technical assistance projects of municipalities in progress within OP Environment;
 1 successfully accomplished contract for the Ministry of Interior’s Directorate "Coordination of combating offenses
affecting the financial interests of the European Communities“ - developing a project for OP Technical Assistance
with aid implemented approx. BGN 900 000;
www.elana.net

6. Highlights of experience
In the period of 2000 – 2011 ELANA Investment has developed and managed successfully projects of enterprises,
agricultural producers and municipalities helping them acquire over BGN 200 mln aid in their investment programmes
through applications to EU Structural funds or pre-accession programmes:
Highlights of experience with EU pre-accession programmes
 Implemented 87 projects within SAPARD programme of over BGN 65 mln within the programme period
of 2001 -2007;
 Implemented the first EU Phare technical assistance project for SMEs in Bulgaria (SRAFAS; EUR 3 mln);
 15 implemented projects of enterprises with aid of over EUR 1 mln within Phare grant schemes;
 9 projects implemented with investment of BGN 3 mln for modernisation of agriculture within Agriculture State
Fund grant programmes.
www.elana.net

7. Services
Services to local & international business and municipalities (public administration):
 Consulting on opportunities for technical and financial assistance provided by all funding programmes in Bulgaria;
 Primary structuring of applicant’s investment idea and research on feasible funding opportunities;
 Defining the project idea eligibility in accordance with relevant requirements of selected funding programme;
 Consulting throughout the entire investment project cycle:
• Application form preparation;
• Monitoring and evaluation form;
• Business plan preparation including: summary, aims and strategy, activities, market analysis, product strategy,
marketing plan, financial plan;
• Projected cash flow, income and outcome analysis, financial indicators;
• Full set of tender documents and technical specifications;
• Financial and cost-benefit analysis;
• Pre-investment research;
• Additional technical assistance throughout project implementation;
 Development of tender procedures and relevant documentation;
 Consultation on project reporting and submission of payment claims.
Services to international businesses and public organizations:
 Advising international companies with businesses in Bulgaria on EU funding opportunities;
 Networking with local businesses and public administration;
 Structuring and developing of local and international funding and investment vehicles
www.elana.net

8. Regional Urban Development Fund
 On 29 December 2011 European Investment Bank, in its capacity as the Manager of the JESSICA Holding Fund
Bulgaria, concluded an agreement for the establishment of Regional Urban Development Fund (RUDF) by the
shareholders of the consortium: Societe Generale Expressbank, ELANA Holding, ELANA Investment and
Balkan Advisors;
 RUDF will invest BGN 36,9 mln of JESSICA funds combined with the BGN 73,8 mln contribution of the leading
shareholder Societe Generale Expressbank in urban development projects in 6 major cities of Bulgaria –
Plovdiv, Varna, Bourgas, Rousse, Stara Zagora, Pleven. A total of BGN 110 mln will stir regional urban development
by 2015.
 RUDF investment will be provided through low-interest loans and capital to municipalities, private investors or
public-private partnerships.
 The JESSICA investment portfolio may include projects with the following scope: rehabilitation of deprived urban
areas, basic infrastructure works, energy networks and energy efficiency in the context of a wider urban development
plan, etc.
 Contact: http://www.jessicafund.bg/
www.elana.net

9. Rural Development Programme: Experience
Rural Development Programme – RDP (2007 – 2013)
ELANA Investment consultants have acquired in-depth expertise in various sectors of Bulgarian agriculture and are
experienced in successful projects throughout over 10 years – through projects within pre-accession SAPARD and in
the last 4 years – the Rural Development Programme.
 Since RDP start in 2008 ELANA Investment has consulted 142 approved projects within 7 measures of the
programme – the projects have invested in the customers’ businesses approx. BGN 47 mln aid.
 115 agricultural projects had been implemented successfully and approx. BGN 30.5 mln aid has fueled the
modernization and technological advancement of agricultural producers as well as improvement of infrastructure
in municipalities.
 ELANA Investment experts are members of the regular working groups within the monitoring committee of the
Rural Development Programme and contribute to the improvement of the procedures and effectiveness of the
programme.
www.elana.net

10. Rural Development Programme: Experience
RDP approved projects of ELANA Investment 2008 - 2011
www.elana.net

11. Rural Development Programme: Experience
Rural Development Programme – RDP (2007 – 2013)
Some of ELANA Investment customers with considerable investment projects:
 “Yaitsa & ptitsi – Zora“ AD – the largest eggs producer in the country.
 „Josi“ OOD – one of the largest producers of dairy products.
 „Aron“ OOD – the largest rice producer, founded the largest plan for rice production in the Balkan region with aid
from RDP measure 123.
 „Grand Agro“ OOD – one of the largest grain producers in Southern Bulgaria.
 Sofia Municipality – in 2009 ELANA Investment in consortium with New-I won Sofia Municipality tender for
consultancy contract for RDP projects until 2013 г.
 „Semena Sinhron“ OOD – large agricultural producer with the largest cow farm in Southern Bulgaria.
www.elana.net

12. OP Competitiveness: Experience
OP Competitiveness (2007 – 2013)
ELANA Investment consultants work on OP Competitiveness projects from the very start of the programme in 2008. The company
provides profound expertise based on many years of experience in business analyses, including market and financial
analysis, valuation of enterprises, restructuring, etc. ELANA Investment consultants have acquired the experience through
projects in various industrial sectors since 90s. Some of the company customers that have successful track record with Phare
projects continue now the same way with OP Competitiveness.
 39 approved projects of manufacturers within the grant procedures for modernization and innovations’ implementation.
 Approx. BGN 41 mln was invested in the expansion of ELANA customers’ businesses following the approved applications.
 ELANA Investment consultants are active in designing proposals and analyses on improving EU funding procedures in
the country – through the membership in the Bulgarian Association of EU Programmes’ Consultants (BAEPC) and the
Confederation of Employers and Industrialists in Bulgaria (CEIB).
www.elana.net

13. OP Competitiveness: Experience
Large enterprises with successful projects:
 Bulmetal OOD with 2 projects (large metal packaging producer)
 Sopharma AD (one of the largest pharmaceutical companies with extended international markets).
Some SMEs with successful projects:
 Index-6 OOD with 2 projects (the largest producer of food & beverages filling & capping machines)
 Bulmetal Trading EOOD with 2 projects (large metal packaging producer)
 Yoveta Glass EAD (glass products)
 Pasat Bulgaria AD (large fibre glass producer, large producer of boats)
 Dunav Press AD (one of the most advanced printing houses in the country)
 Harpel OOD (producer of luxury paper packaging)
 Tractor OOD (producer of parts for agricultural equipment)
 Bankware OOD (Mastercard licensed plastic cards producer)
 Vereya Invest AD (producer of wooden furniture)
 Sidjest OOD (stationery and luxury paper packaging producer)
 Chimax Pharma EOOD with 2 projects (pharmaceutical company)
 FZ Milve AD (pharmaceutical company)
 Podemkran AD (producer of crane components)
 Panhim OOD (chemical industry)
 Metal agro AD (producer of agricultural equipment)
 Builvest-2000 OOD (printing house)
 ADD-Bulgaria OOD (smart metering systems)
 Liftcom OOD (producer of lifts)
 Primeks EOOD (tire manufacturer)
www.elana.net

14. Projects for municipalities
ELANA Investment develops projects and provides technical assistance to municipalities within the Rural Development
Programme, OP Regional Development, OP Environment. The services are designed to meet all stages of the
application with all analyses included as well as the tender documentation.
OP Environment (2007 – 2013)
ELANA Investment has provided technical assistance to projects of the municipalities Petrich, Kresna, Pazardzhik,
Belene.
OP Regional Development (2007 – 2013)
ELANA Investment has developed one approved project within OP Regional Development and is currently providing
technical assistance for its implementation – an investment of approx. BGN 4 mln aid is being implemented through
energy efficiency measures for schools and kindergardens in Blagoevgrad municipality.
www.elana.net

15. SAPARD Programme: Experience
SAPARD successful projects (2001 – 2006)
 ЕLANA Investment has developed and managed implementation of 87 successful projects funded by
SAPARD Programme, which has raised grants for agricultural producers at the amount of over BGN 65
mln. Some of the customers have acquired investments through several successful projects within
SAPARD and recently through the Rural Development Programme.
 The projects were implemented in 17 sectors of agriculture and farming: dairy processing and
production; perennial farming; crop production; poultry farming and egg production; wine production;
fruits and vegetables; meat processing; fisheries and aquaculture; rural tourism; wood processing;
beekeeping; horse breeding; essential oil plants; agroecology; municipalities.
www.elana.net

16. SAPARD Programme: Experience
Some of ELANA Investment customers with successful SAPARD projects are:
 „Yaitsa & ptitsi – Zora“ AD (the biggest eggs producer in the country);
 „Semena Sinhron“ OOD (large agricultural producer with the biggest cow farm in Southern Bulgaria);
 “Deroni” OOD (major player in food industry);
 “Ivcom” EOOD (crop production);
 “Mesokombinat-Razgrad” (meat processing plant);
 dairy producer “Bulgarian Cheese” OOD;
 major wineries „Todorov Agro“ EOOD and “Damyanitsa” AD;
 canning factory „Juper“ AD, etc.
Agriculture State Fund grants: Successful projects
Within the Agriculture State Fund grant programme for agricultural equipment (2005 - 2007) ELANA Investment
consultants had provided customers with 9 successful projects of over BGN 3 mln.
www.elana.net

17. PHARE Programme: Experience
Phare Programme successful projects (2000 – 2007)
Technical Assistance for SME Development (2000)
Consortium of ELANA Investment and the Spanish consultant IDOM implemented the first Phare technical
assistance project for SME support (EUR 3 mln) - SRAFAS, 2000. The project was designed to support Bulgarian
SMEs through consultancy.
The results of the project:
 Following an information campaign, 150 Bulgarian companies registered to get free consultancy;
 40 companies were supported by providing marketing strategies, HR advice on constructing Marketing
departments and training of staff;
 7 companies were consulted on industrial production management and in quality management system
introduction;
 6 companies acquired a fully developed management information system;
 40 companies acquired consultancy on effective financial management.
www.elana.net

18. PHARE Programme: Experience
Phare Programme successful projects (2000 – 2007)
Phare SME grant schemes
Within the Phare SME grant schemes ELANA Investment has helped 15 customers raising over
EUR 1 mln funding for their investment projects.
The SMEs successful projects came from a range of sectors of economy: meat processing; dairy; winery; crop
production; fiberglass products, boats manufacturing; textile; armoured doors, etc.
Some of the successful investment projects: Emil Iliev EOOD (leading meat products producer in Northeast Bulgaria),
Damyanitsa AD (leading winery), Josi OOD (leading dairy producer), Passat Bulgaria (leading provider of fiberglass
products and one of the largest boat manufacturers in the country), etc.
The investment project application of Damyanitsa AD got the highest mark in the project assessment process among
1400 applications – within 2006 grant scheme.
www.elana.net

19. A team of experienced consultants
ELANA Investment team includes experts with long experience in various funding sources and applications – recent
years EU Structural Funds, pre-accession programmes and other international donor initiatives. The team also includes
specialised legal experts in EU programmes.
ELANA Investment Management
Kristina Tsvetanska – Executive director and Board member
10-years experience as consultant on EU Structural funds and pre-accession funds as well
as with international donor programmes. Developed and managed projects for OP
Competitiveness, Rural Development Programme, OP Regional Development, OP
Environment, SAPARD, Phare and others. Ongoing analyses and proposals for
improvement of the Rural Development Programme and OP Competitiveness for the EU
consultants Association and CEIBG. Graduated Banking and Finance at the University of
National and World Economy-Sofia. 7 years of experience in the banking sector. Deputy
chairperson Bulgarian Association of EU Programmes’ Consultants (BAEPC).
Teodora Ovcharova – Head of European Programmes Department and Board member
Consultant with 10-years experience in EU pre-accession and EU Structural funds. Special
in-depth focus on valuations of Bulgarian enterprises, restructuring, M&A, structuring of
funding vehicles such as BEEF. Ongoing analyses and proposals for improvement of the
Rural Development Programme and OP Competitiveness for the EU consultants Association
and CEIBG. Graduated Finance at the University of National and World Economy-Sofia.
www.elana.net

20. A Family of Market Leaders
ELANA Investment is part of one of the largest non-banking financial groups in Bulgaria – ELANA group of
companies.
ELANA is a preferred partner to local and international investors for 20 years already in a range of expertise areas:
asset management, trading on financial markets, investment banking, business consultancy, real estate investment,
renewable energy investment, etc.
ELANA Financial Holding comprises the following companies:
 ELANA Investment – leading EU funding consultant to business and public institutions
 ELANA Fund Management – one of the first asset managers in Bulgaria, 8 years in the top 3 of the mutual
funds market
 ЕLANA Trading – one of the first brokerages in the country, 20 years in the top 3 of brokerage services and
investment banking
 The holding was also major player in stirring a transparent agricultural land market in Bulgaria – founder of
the first REIT for investing in agricultural land in the country – ELANA Agricultural Land Opportunity
Fund – EALOF
ELANA Holding comprises the following divisions:
 ЕLANA Energy Management – develops renewable energy production projects – approx. 40 projects for
wind and solar parks.
 Fund management of the Bulgarian Energy Efficiency Fund - as part of the World Bank selected fund
management consortium Econoler-EnEffect-Elana - the first private fund manager of a public financial
institution in Bulgaria;
www.elana.net

21. ЕLANA Investment
Sopharma Business Towers
5, Lachezar Stanchev str., tower B, Sofia 1756
tel: +359 2 81 000 50, fax: +359 2 95 815 23
investment@elana.net, eufunds@elana.net
www.elana.net