The European Bank for Reconstruction and Development has approved a EUR 15mn credit line to the country’s largest lender Unicredit Bulbank. Unicredit Bulbank will use the funds to finance energy efficiency projects of local companies. The loan is part of a new programme of EC and EBRD for lending up to EUR 100mn to banks, which finance energy efficiency projects in Bulgaria and Romania . The companies financed under this programme will receive back 15% from the project costs. The EBRD financing is supplemented by EUR 24mn PHARE funds, used for technical support and enhancing energy efficiency projects. The total amount disbursed under this programme in the country is EUR 20mn.
Source: Intellinews-Bulgaria Today