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14.09.2011 12:52
Official start of the Residential Energy Efficiency Credit Line - REECL
Associations of owners in condominiums will receive up to 35% of the financing as a grant
AUTHOR: Atanas Georgiev

  • Daniel Berg, EBRD
    © REECL

The European Bank for Reconstruction and Development (EBRD) announced officially today the start of the second edition of the Residential Energy Efficiency Credit Line - REECL. It will last from August 2011 until July 2014 and will provide 40 million EUR for energy-efficient loans, together with 14 million EUR grants form the Kozloduy International Decommissioning Support Fund (KIDSF), managed also by EBRD. Two Bulgarian commercial banks will manage the process in Bulgaria - ProCredit Bank and Raiffeisenbank. The Ministry of Economy, Energy and Tourism is an official partner and the Ministry of Regional Development and Public Works provided expert support.

Delyan Dobrev, deputy minister of economy energy and tourism, Daniel Berg - director for Bulgaria in EBRD, Rumyana Todorova - CEO of ProCredit Bank, Momchil Andreev - CEO of Raiffeisenbank, and representatives of EBRD and REECL attended the official opening of the program. Its first edition was active in 2005-2009. Now the program would support additional activities - replacement of collective building heating systems with individual ones, gasification systems, and recuperative ventilation systems. The other efficient measures that could be financed include energy-saving windows, gas boilers, biomass heating appliances, solar hot water collectors, heat pump systems for heating and cooling, and photovoltaic systems. Individual households will receive grants for up to 20% of the investment, whole buildings with more than 3 households - up to 30%, and association in condominiums - up to 35%.

More info is available at the REECL official webpage

TAGS: EBRD | REECL | energy efficiency | MEET | MRRB | ProCredit Bank | Raiffeisenbank | Daniel Berg | Delyan Dobrev | condominium | grand | KIDSF 

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