REECL

AcronymDefinition
REECLResidential Energy Efficiency Credit Line (Bulgaria)
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More than 42,000 small-scale residential energy efficiency projects have been implemented using REECL resources.
Transition Impact : REECL 3 will contribute to transition by: (i) demonstrating best-available-technology energy efficiency products and comprehensive refurbishment in the residential sector, expanding and enhancing competition in the market for such products and services; (ii) developing financial intermediation with housing associations and service provider companies; (iii) building capacity within participating financial institutions in the field of service provider companies financing and within service providers on the structuring of energy efficiency projects; and (iv) assisting Bulgaria in its efforts to decrease CO2 emissions.
Technical Cooperation : UBB will benefit from the grant funding available under the REECL 3 framework, amounting to EUR 4.
Transition Impact : REECL 3 will contribute to transition by: (i) demonstrating best-available-technology energy efficiency products and comprehensive refurbishment in the residential sector, expanding and enhancing competition in the market for such products and services; (ii) developing financial intermediation with housing associations and service provider companies; (iii) building capacity within PFIs in the field of service provider companies financing and within service providers on the structuring of energy efficiency projects; and (iv) assisting Bulgaria in its efforts to decrease CO2 emissions.
The first REECL framework was launched in 2005, with loans of 50 million to Bulgarian banks, and was then expanded with a further 40 million in loans in 2011.