EBRD this week agreed with Bulgaria to increase competitiveness of small and medium sized enterprises through investments in energy efficiency in order to strengthen the transition of the country towards a green economy.
Building on EBRD’s successful track record with implementation of sustainable energy credit lines in Bulgaria and the region, the Bank will support the design, launch and monitoring of the new Government’s programme to increase efficiency productivity of SMEs through the promotion of energy efficiency investments. To support this new programme, the Bank plans to establish the “Energy Efficiency for Competitive Industry Financing Facility” under which the Bank will extend credit lines to commercial banks in Bulgaria.
Under its new programme, the Government will provide to SMEs technical assistance and grants alongside loans from commercial banks which should receive credit lines from EBRD. For this purposes, the Government expects to utilise approximately EUR 200 million earmarked for sustainable energy initiatives under the Operational Programme “Development of the Competitiveness of the Bulgarian Economy 2007-2013”.