On July 22nd, 2016 an agreement was signed between Piraeus Bank Bulgaria and the European Bank for Reconstruction and Development (EBRD) for a loan of 10 million euros, within the new credit line for energy efficiency at home (REECL). The program REECL /Residential Energy Efficiency Credit Line/ is a joint project of the European Bank for Reconstruction and Development, the EU and the Ministry of Energy, which aims to stimulate the introduction of measures to increase energy efficiency in the households. Kozloduy International Decommissioning Support Fund supports the program by providing technical assistance on funded projects and grant incentive payments for end users.
Piraeus Bank is committed to use the funds provided to finance investments in energy efficiency projects for the realization of energy saving measures in private buildings throughout the country. Special loan products have been developed, which are tailored to the needs of both individuals, owners and occupants of the households who are planning the introduction of energy saving measures, based on REECL program, as well as to companies involved in the construction of energy efficient homes or projects on the introduction of measures for energy efficiency. All borrowers as individuals, associations of apartments owners and service companies (professional landlords, ESCO, developers and builders) borrowers are eligible to receive an investment incentive payment of an amount equal to 10% of the loan for the purchase, delivery and installation of energy saving measures for houses with one or two dwellings and 20% investment incentives for apartment building projects with more than three separate homes under the program REECL. The cooperation of Piraeus Bank Bulgaria with the European Bank for Reconstruction and Development (EBRD) will contribute to the Bank's efforts to promote energy-saving practices and support of the housing sector in Bulgaria.
For Piraeus Bank Bulgaria:
Piraeus Bank Bulgaria, part of Piraeus Bank Group is one of the most dynamically developing financial institutions in Bulgaria. It is a universal bank, specialized in corporate banking, retail banking, financial services for small and medium enterprises. In Bulgaria, Piraeus Bank operates since 1994. In early 2005, Piraeus Bank acquired Eurobank and currently ranks among the ten largest banks in the country. It has a branch network of 75 branches throughout the country and on 31.12.2015 has assets amounting to 1.5 billion euros.
About Piraeus Bank Group:
Piraeus Bank Group has an exclusive know-how in the field of small and medium enterprises, agriculture, retail banking, leasing, stock markets and investment banking. In 2012 and in 2013 the Group carried out a series of commercial transactions (acquisition of the "healthy" part of ATEBank, of Geniki Bank, Millennium Bank of Greece and banking operations in three Cypriot banks in Greece), thereby further strengthens its position market and actively contribute to the restructuring of the Greek economy. At the end of March 2016 the Group has a network of 701 branches, provides more than 19.2 million jobs and serves 5.5 million customers in 10 countries. Piraeus Bank Group, combining business development with social responsibility, supports systematically its relations with its social partners, focusing on the protection of the natural and cultural environment.