Bulbank has signed two new credit line agreements with EBRD for the total amount of EUR 10 mln. The agreements are under the energy efficiency program. In addition to the existing program for financing of companies, Bulbank has started extending consumer loans for energy efficiency.

Each household with credit from Bulbank for purchase of energy saving equipment will be able to refund up to 20% of the expenses within three month period since the finance was received. These 20% of the loan amount are refunded as it is decreased by the same sum from the extended loan or as an amount, which could be extended for additional needs.

Despite the anticipated 20% refund of the credit size, Bulbank also offers attractive interests to its clients as well as significant discounts when more than one household from one and the same building or living at one and the same street apply for such credit.

Bulgarian companies will be able to apply for credit up to the size of EUR 2 mio using it for the modernization of current power capacities or for the construction of small outfits, which use renewable sources of energy. The program supports also the establishment of power capacities which use renewable sources of energy like hydro-electric, wind or sun power plants, installations for biogas or geothermal capacities.

Credits are extended for the maximum term of 6 years. Companies could use additional subsidy when the project is set up successfully. The additional subsidy amounts to 7.5% from the principle at projects relating to improvement of energy efficiency and 20% from the principle when the credit is used for construction of power capacities of renewable sources of energy. Subsidies are extended under the agreement signed between Bulgarian government and EU concerning Kozloduy NPP.