EBRD unveils enhanced home refurbishment funds 

The European Bank for Reconstruction and Development set EUR 20 million in loans for energy efficiency measures for households, enhanced by a grant of EUR 4.4 million from the Kozloduy International Decommissioning Support Fund (KIDSF). Larisa Manastirli, the international financing institution’s manager for Bulgaria, said on September 1 its investments this year climbed to EUR 450 million, a record volume for the first eight months.

At the presentation of the extension plans for the Residential Energy Efficiency Credit Line (REECL) programme, deputy energy minister Zhecho Stankov stated the move came with the success of the first two phases and an increase in demand, according to a report published by the country’s government. Refurbishments in the residential sector led to savings of 236.9 GWh per year and slashed carbon emissions by 247 tonnes on an annual basis, he added. The result is equivalent to energy consumption of 27,000 homes and the absorption by 41,000 trees, respectively.

In cooperation with the Ministry of Energy, EBRD’s programme provides grants of 10% to 20% of the principal in an energy efficiency loan. Stankov expressed hope REECL, which was launched in 2005, would improve energy efficiency of 4,000 more homes in the Balkan country and contribute to European targets for sustainable development. The programme now also finances solar power and gas systems, ventilation, electricity transformers and elevators with enhanced efficiency.