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BDB to provide funding for the National Programme for Energy Efficiency

Bulgarian Development Bank (BDB) will attract financial resources in the amount of BGN 1 billion for the implementation of the National Programme for Energy Efficiency of Multi-Family Residential Buildings. The bank will receive government guarantees in accordance with Article 100 of the 2015 State Budget Act, which will help it attract borrowing from international financial institutions under the best possible conditions.

The National Programme for Energy Efficiency was adopted by the Council of Ministers on 27 January 2015. It provides for financial assistance to owners of private residential buildings of no less than 36 apartments built under an industrial method. The programme will help reduce household electricity bills and will extend the life cycle of buildings.

BDB will participate in the negotiation of agreements for the provision of financial resources under the programme. After the finalization of the terms and conditions of the loans, their parameters will be submitted for approval by the Council of Ministers and will be made public.

To allocate targeted financing, BDB will sign tripartite agreements with the mayors of district municipalities, representatives of associations of owners, and the competent regional governors acting as representatives of the Bulgarian state. Contracts will be separate for each project, and the funds will be credited into purpose-specific accounts at BDB.

Buildings whose applications have been approved will receive 100% grants. Owners' associations have no financial commitments or obligations to BDB - they will be set up for the sole purpose of the programme.

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