The European Bank for Reconstruction and Development (EBRD) granted a credit line of 15 million euro to UniCredit Bulbank, with which it would finance projects of Bulgarian companies in energy efficiency, mediapool.bg said.

The agreement between the two institutions was signed on January 23.

The loan for UniCredit Bulbank is part of a new programme of the European Commission (EC) and the EBRD to grant credits with a total amount of up to 100 million euro to banks which finance energy efficiency projects in Bulgaria and Romania. The programme is complemented by 24 million euro funding from the EU, granted under the PHARE programme for technical support of energy efficiency projects and for stimulating the participation of banks and companies.

The companies financed under the programme would be refunded 15 per cent of the expenditures on the realisation of their projects, mediapool.bg said. 

With the credit line between the EBRD and UniCredit Bulbank the funding under the EC and EBRD programme for energy efficiency projects at hand to Bulgarian businesses amounts to a total of 20 million euro.