EBRD Loan for Bulgaria's Residential Sector Energy Efficiency

Business » FINANCE | April 21, 2012, Saturday // 11:47
Bulgaria: EBRD Loan for Bulgaria's Residential Sector Energy Efficiency Since the beginning of the EBRD's operations in Bulgaria, the Bank has invested over EUR 2.5 B in various sectors of the country's economy. Photo by EBRD

The European Bank for Reconstruction and Development (EBRD) said it has provided a EUR 5 M loan to DSK Bank to support energy efficiency improvements in Bulgaria's residential sector.

The loan is part of EBRD's Residential Energy Efficiency Credit Line (REECL) Framework aimed at addressing energy wastage in Bulgaria's residential sector.

DSK Bank, wholly-owned by the Hungarian OTP Bank and the second largest bank in Bulgaria, will use the EBRD loan for on-lending to individuals and associations of apartment owners.

It can finance sustainable energy investments undertaken by Bulgarian households, such as thermal insulation of walls, installation of energy efficient windows, boilers and central heating systems, among other modern energy saving techniques.

According to EBRD the project will improve the energy efficiency of Bulgaria's residential sector, helping households to save energy and reduce their bills

REECL Framework was launched in 2005 to address energy wastage in Bulgaria's residential sector and has financed around 30,000 small-scale residential energy efficiency projects in six years.

In 2011 the framework was extended by an additional EUR 40 M.

Since the beginning of the EBRD's operations in Bulgaria, the Bank has invested over EUR 2.5 B in various sectors of the country's economy.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Finance » Be a reporter: Write and send your article
Tags: REECL, Residential Energy Efficiency Credit Line, DSK Bank, European Bank for Reconstruction and Development, EBRD, Bulgaria

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria