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Detail of GEF Project #2117

GEF Project ID2117
Funding SourceGEF Trust Fund
Project NameEnergy Efficiency Project
RegionEurope and Central Asia
Focal AreaClimate Change
Operational Program5
Pipeline Entry Date2003-06-18
PDF-B Approval Date2003-07-24
Approval Date2004-05-21
CEO Endorsement Date2005-02-14
GEF Agency Approval Date2005-03-22
Project Completion Date2010-03-31
Project StatusProject Completion
GEF AgencyWorld Bank
Executing AgencyBulgaria Energy Efficiency Fund
DescriptionThe 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 StatusPreparation 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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