Energy Efficiency Funding Boost in Bulgaria

THE European Bank for Reconstruction and Development (EBRD) intends to establish the "Energy Efficiency for Competitive Industry Financing Facility" in Bulgaria.

The Bulgarian Ministry of Economy, Energy and Tourism and the European Commission have asked the EBRD to provide its support in promoting energy efficiency and renewable energy investments in Bulgaria through the EU Structural Funds.

The suggested Financing Facility is to supplement the Ministry’s current energy efficiency promotion programme, with the new grant funding offering of €200 million providing a huge boost.

Under this Facility, the EBRD will provide credit lines to private companies for their investments in energy efficiency through local participating banks.

The EBRD has a successful track record of implementing energy efficiency finance facilities across eastern Europe.

Already in Bulgaria they have provided funding by combining with the Kozloduy International Decommissioning Support Fund and the European Union, offering credit lines through commercial banks for small sustainable energy projects for small to medium enterprises.

Monday 3rd January 2011

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