A credit line of €54 mln agreed between EBRD and the International Fund Kozloduy NPP

georgi.velev@klassa.bg


Credit lines of € 54 mln can be granted to Bulgarian households for the implementation of the energy efficiency measures. This was provided by the Residential Energy Efficiency Credit Line (REECL) programme of the European Bank for Reconstruction and Development (EBRD), which was presented yesterday. The institution will collaborate with two Bulgarian banks on the lending scheme, involving Raiffeisenbank and ProCredit Bank. EBRD will grant a credit line of €40 mln, while the remaining €14 mln will be allocated under the International Fund Kozloduy NPP.

The resources under the credit line can be used for the replacement of window panes in dwellings, for the installation of photovoltaic panels, gas boilers, heating systems, thermal stations, gasification of households and for the mounting of home heat-pump systems. EBRD has already allocated 1 mln under 600 contracts, while the entire amount of the grants is expected to aid the improvement of the energy efficiency of 20,000 households.

Both commercial banks lending the funds stipulate that the grant should cover up to 20% of the principal amount of the loan on the project of houses and individual apartments. It will reach 30% in case of planned improvements to multi-family buildings with at least three households. Besides, the grant will come to 35% should the co-owners in the building organise an association, explained Boris Petkov, Head of the project.

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