BDB signs first targeted financing contract under Programme for Energy Efficiency of Residential Buildings

The Bulgarian Development Bank (BDB) has received an application under the first targeted financing contract under the National Programme for Energy Efficiency of Multi-Family Residential Buildings. The association applying for a grant under the programme is a condominium of bl. 1 in the Mladost residential district in Vratsa.

The association is comprised of 84 apartments of the three entrances of the building. Over the short period since the launch of the programme, the condominium has successfully completed all stages preceding the signing of the targeted financing contract. These include the registration of the association in accordance with Article 25(1) of the Condominium Ownership Management Act, signing the minutes of the General Assembly to provide access to all sites, as well as a contract between the association and the municipality.

Once а contractor has been selected for the feasibility study of the building, a technical design will be drawn up for the purposes of renovation. Its approval will be followed by signing of an annex to the tripartite agreement between BDB, the municipality of Vratsa, the regional governor of the Vratsa region, including the specific financial parameters and installments of payment.

As of 13 February, two registers will be published on the BDB official website which will show real-time information on candidate and approved projects under the National Programme for Energy Efficiency.

The first register will include projects that have passed the application stages, they have received a positive score by the municipalities for inclusion in the programme and are applying for BDB financing. The second register will include the applications processed by the bank and contracts signed for targeted financing.