Bulgaria Sees Decline in New Residential Buildings
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Bulgarian Development Bank to Get EUR 150 M for Energy Retrofitting of Homes
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The Bulgarian Development Bank (BDB) will receive EUR 150 M from the Council of Europe Development Bank for energy-related renovation of residential buildings.
This is the first step towards securing low-interest loans for which the state covers the guarantee.
The funding will be used for the implementation of Bulgaria’s BGN 1 B National Energy Efficiency Program for Multi-Family Residential Buildings.
Bulgaria’s National Energy Efficiency Program for Multi-Family Residential Buildings was adopted with a decision of the Council of Ministers dated January 27, 2015.
The program envisages grants to the owners of private dwellings with no less than 36 apartments built using the industrial-type construction method.
The scheme is to help reduce heating and electricity bills of households and to extend the life of the buildings.
The Bulgarian Development Bank is negotiating the signing loan agreements with two other large financial institutions, according to reports of the Bulgarian National Radio.
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