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Detail of GEF Project #2117
| GEF Project ID | 2117 |
| IBRD PO ID | 84831 |
| Funding Source | GEF Trust Fund |
| Project Name | Energy Efficiency Project |
| Country | Bulgaria |
| Region | Europe and Central Asia |
| Focal Area | Climate Change |
| Operational Program | 5 |
| Pipeline Entry Date | 2003-06-18 |
| PDF-B Approval Date | 2003-07-24 |
| Approval Date | 2004-05-21 |
| CEO Endorsement Date | 2005-02-14 |
| GEF Agency Approval Date | 2005-03-22 |
| Project Completion Date | 2010-03-31 |
| Project Status | Project Completion |
| Executing Agency | Bulgaria Energy Efficiency Fund |
| Description | The objective of the proposed project is to support a large increase in EE investment in Bulgaria through development of a self-sustaining, market-based financing mechanism. The project’s goal is focused on the development and implementation of financially profitable EE investment. GEF financing of some US$10 million will be sought to provide the seed capital for BEEF (US$8.8 million) and to fund the TA component (US$1.2 million). As BEEF seeks to make profit, investment financing and partial credit guarantees would be provided on commercial terms. The BEEF would be designed to attract a substantial amount of commercial co-financing (mostly by banks), in addition to a minimum of 20% contribution to project costs by the borrowers. |
| Implementation Status | Preparation activities (PDF-B grant ) were completed and Completion Report was delivered. The main project was approved by the Bank Board on 3/22/2005, and the GEF Grant Agreement was recently ratified by Parliament. |
| PDF B Amount | 300,000 USD |
| GEF Project Grant | 10,000,000 USD |
| GEF Grant | 10,300,000 USD |
| Cofinancing Total | 39,510,000 USD |
| Project Cost | 49,810,000 USD |
| GEF Agency Fees | 841,000 USD |
| GEF Project (CEO Endo.) | 10,000,000 USD |
| Cofinancing Total (CEO Endo.) | 39,510,000 USD |
| Project Cost (CEO Endo.) | 49,810,000 USD |
| Project Documents |
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