Energy Efficiency

The Bulgarian Development Bank (BDB) has raised financial resources for the implementation of the National Programme for Energy Efficiency for multi-family residential buildings. For that purpose, the Bank has received a state guarantee, pursuant to Article 100 of the State Budget Act for 2015 which has facilitated the attraction of borrowed funds from international institutions at the best possible terms and conditions.

The National Programme for Energy Efficiency has been approved by Decision of the Council of Ministers of 27 January 2015. It envisages the provision of financial assistance to the owners of private residential buildings with not less than 36 apartments built in an industrial way. The programme has helped reduce the electricity expenses of households, as well as for extension of the lifecycle of the buildings.

For the disbursement of targeted financing the BDB concludes tripartite agreements with the mayors of district municipalities representing the Association of Owners and the respective District Governors in their capacity of representatives of the Bulgarian state. The agreements are project specific and the funds are received in specially opened bank accounts at the BDB.

The buildings with approved applications receive 100% grant. The associations of owners do not have any financial commitments or obligations to the BDB – these are founded only for the purposes of the programme.

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