BDB with a new loan program for energy efficiency of small and medium businesses
The program amounts to BGN 30 million
The Bulgarian Development Bank supports companies in the processing sector in Bulgaria in their transition to a green and low-carbon economy through its new SME Energy Efficiency Program. It will be available to companies that have submitted project proposals under the procedure "Recovery of SMEs through energy efficiency improvement" funded by OP Innovation and Competitiveness 2014-2020 (OPIC).
Participating enterprises can benefit from direct loans ranging from BGN 100 000 to BGN 500 000. This will cover the 50% co-financing required under OPIC or will allow performance of additional activities to improve energy efficiency. The financial instrument will also be available to companies that have not been approved for EU funds.
The BDB's program provides the opportunity for 100% financing of the project without VAT, granting of a loan even before the execution of the grant agreement, as well as minimum collateral requirements given the nature of the activities.
Companies that have already made an investment can apply for full reimbursement as long as the expenditure has been incurred after the date of submission of the project proposal under OP Innovation and Competitiveness.
The total value of the program is BGN 30 million. The goal is to accelerate the introduction of energy-saving technologies in manufacturing, which will lead to a reduction in the electricity consumed from external suppliers.