The Energy Efficiency and Green Economy Programme will increase both Bulgarian energy efficiency and local competitiveness using €150 million in grant funding from EU Structural Funds and a €150 million credit line extended by the EBRD under the Bulgarian Energy Efficiency for Competitive Industry Finance Facility (BEECIFF).
25 April 2012: The European Bank for Reconstruction and Development (EBRD) and the Government of Bulgaria have launched a green economy programme to increase both energy efficiency and local competitiveness.
Bulgaria has launched an Energy Efficiency and Green Economy Programme including €150 million grant funds from EU Structural Funds and a €150 million credit line extended by the EBRD under the Bulgarian Energy Efficiency for Competitive Industry Finance Facility (BEECIFF). Funding provided by the EBRD will be given to small and medium-sized enterprises (SMEs) for investment in energy saving technologies and small-scale renewable energy projects. Lowering the energy intensity of the Bulgarian economy is a key priority for the government as it is five times higher than the EU average. Jean Marc Peterschmitt, EBRD Managing Director for Central and South-Eastern Europe, said the programme would assist SMEs in Bulgaria reduce energy consumption. [EBRD Press Release]