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Frequently Asked Questions (FAQ)  

Q: What is the object of the REECL Programme?

A: The REECL Programme is designed to provide loans to householders and Associations of Home Owners to save energy and reduce their energy bills by installing new or replacing existing inefficient equipment and appliances with more energy efficient kit meeting the eligibility criteria of the REECL Programme at existing dwelling and residential buildings, duly registered with the competent authority. The eligible technologies financed by the REECL Facility must be new, not recycled or refurbished.

Q: Who is the sponsor of the REECL Programme?

A: The European Bank for Reconstruction and Development, the European Commission and the Bulgarian Energy Efficiency Agency have set up the REECL facility, in co-operation with Bulgarian banks, to help Bulgarian households upgrade their houses and/or flats.

Q: What is the difference between building-level and dwelling-level projects?

A: Building-level projects are implemented in multi-storey apartment buildings and applied to the whole building envelope and/or common engineering systems while dwelling-level projects are implemented in family houses and/or individual apartments.

Q: Which eligible technologies are not applicable to dwelling-level projects?

A: Gasification and partial application of insulation of external walls, roofs and floors of individual dwellings in multi-storey apartment buildings are not eligible projects. Gasification and insulation of external structures are eligible measures only if implemented as part of a building-level project.

Q: Is it true that there is a 20% incentive grant coupled with the REECL loans?

A: Yes, any borrower who takes a REECL loan is entitled to receive an incentive payment toward the cost of the energy saving project once it has been completed, subject to the REECL terms and conditions. However, if any eligible project costs have been partly or fully supported by other grant support programmes, such costs are not eligible under REECL.

Q: What is the amount of the incentive grant for building-level projects?

A: Subject to the REECL terms and conditions, borrowers are entitled to receive payment of incentive grants equal to 30% of the total amount of the REECL loans for any building-level projects and 35% for building-level projects undertaken by Associations of Home Owners and encompassing measures on both building envelope and building service systems.

Q: What is the amount of the incentive grant for dwelling-level projects?

A: Subject to the REECL terms and conditions, borrowers are entitled to receive payment up to 20% of the total amount disbursed by a participating bank for dwelling-level projects, provided that the incentive grants payable in respect of each eligible energy efficiency measure do not exceed the caps as detailed on other pages of this website.

Q: Who donates the funds for the incentive grant?

A: The incentive grants are paid from a EUR 14 million grant from the Kosloduy International Decommissioning Support Fund (KIDSF).

Q: Who can participate in REECL?

A: The REECL project is open to Associations of Home Owners or individuals/groups of individuals who intend to implement eligible projects on existing dwelling and residential buildings, duly registered with the competent authority, owned or occupied by them or their spouse, relatives in a direct line of succession and their siblings.

Q: How do I apply for a REECL Loan?

A: Receive a written quotation from a supplier/installer for eligible energy efficiency home improvement project and apply for a REECL loan at any branch of a participating bank, subject to terms and conditions.

Q: How do I qualify for a REECL Loan?

A: The participating bank checks your credit standing and the eligibility of your home improvement project.

Q: Which are the Participating Banks?

A: The following Banks currently participate:

  • Procredit bank - (REECL products no longer available due to full disbursement of credit line)
  • Raiffeisen Bank - (REECL products no longer available due to full disbursement of credit line)
  • DSK bank - (REECL products no longer available due to full disbursement of credit line)
  • CIBANK - (REECL products no longer available due to full disbursement of credit line)
  • Piraeus Bank - (REECL products no longer available due to full disbursement of credit line)
  • United Bulgarian Bank - (REECL products no longer available due to full disbursement of credit line)

Q: Where can I apply for a REECL loan?

A: Applications for REECL loans can be submitted at any branch of the above or at the outlets of eligible installers.

Q: What energy saving technologies qualify?

A: In order to be eligible for financing under the REECL Programme projects must include eligible measures meeting the eligibility criteria detailed on other pages of this website. The eligible technologies financed by the REECL Facility must be new, not recycled or refurbished. The following energy efficiency technologies for residential buildings will be considered:

  • Energy efficient windows
  • Insulation of walls, roof, and floors/ceilings1
  • Efficient gas boilers and systems
  • Efficient biomass stoves/boilers and systems
  • Solar water heaters and systems
  • Cooling and heating heat pumps systems
  • Building-integrated photovoltaic systems
  • Heat-exchanger stations and building installations
  • Gasification installations2
  • Balanced mechanical ventilation systems with heat recovery

Q: Who is responsible for obtaining all necessary consents and statuary approvals?

A: Borrowers are responsible for obtaining all necessary consents and statutory approvals from the competent authorities (including Building Control, Town & Country Planning, Owners of the dwelling/building etc.) and have authorisation to install the technologies on the site as detailed in the quotation attached to the loan application.

Q: Is it possible for borrowers to use the proceeds of a REECL loan to refinance any existing debt?

A: Borrowers shall not use the proceeds of the REECL loan to refinance any existing debt (whether or not in relation to a project which would meet the REECL eligibility criteria, meaning that the date of the REECL loan agreement should be before the start date of the project.)

Q: Is there a deadline for applying for grant incentives?

A: Yes, borrowers shall not be paid grant incentives if they do not submit the grant incentive application form to their bank within four (4) months of signing the REECL loan agreement.

Q: Is a borrower who owns and/or occupies a dwelling in a multi-storey apartment building  eligible for a REECL loan for external insulation of walls?

A: Yes, only if the REECL loan will be financing a building-level project to fully insulate one or more façades of the building from the ground level to the roof as per conceptual designs prepared or authorised by the project consultant.

Q: Is a borrower allowed to apply for several REECL loans?

A: Yes, a borrower can apply for several REECL loans to implement energy saving projects at various addresses and for different eligible measures in each of them, but without duplicating the same measure in one single dwelling or building and not exceeding the grant amount cap per measure.

Q: How many borrowers are required to implement a building-level project?

A: An Association of Home Owners or at least three or more individual householders, who own and/or occupy separate dwellings in the same multi-family building (the same apartment block) who aim to implement the same type of eligible measure, financed by a corporate REECL loan issued to the Association of Home Owners or personal REECL loans extended to individual householders.

Q: How many times a multi-family building can benefit from a building-level project?

A: Each multi-family building is eligible once only for implementation of one eligible measure except for  insulation of different facades.

 

1 Partial applications for external insulation of outdoor walls, roofs and floors in multi-storey apartment buildings are not eligible.
2 Gasification of a single apartment is eligible only if implemented as part of a building-level project where all apartments of the same building will be connected to the gas network.

   
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