EBRD Mulls 55 Mln Euro Credit Line to Bulgarian Banks for Energy Efficiency, Renewable Projects

EBRD finance will comprise senior loans of up to an aggregate of 55 million euro to be allocated to banks in Bulgaria, the EBRD said in a statement.

"Additional EBRD funds of up to 55 million euro would be complemented by the Kozloduy International Decomissioning and Support Fund (KIDSF) grant funding," it said.

Donors to KIDSF finance a programme for the decommissioning of a pair of 440-megawatt reactors at the Kozloduy nuclear power plant which Bulgaria closed down under pressure from the European Union at the end of 2006, just before joining the bloc in January last year.

The 55 million euro funding is the final extension under the EBRD's framework facility for Bulgaria, called the Bulgarian Energy Efficiency and Renewable Energy Credit Line (BEERECL) worth 105 million euro. The facility, launched in 2004, covers technical assistance and incentives to companies implementing energy efficiency and renewable energy projects financed under the BEERECL.

The lending is pending concept review. EBRD is currently holding talks with potential participating banks.

($ = 0.7875 euro)