Project Database Search Results

USAID established a Development Credit Authority program that provided a partial loan guarantee to a local bank. This was the first commercial energy efficiency funding mechanism that addressed municipal borrowers. This pilot effort, carried out through United Bulgarian Bank with USAID technical assistance in loan preparation and evaluation, led to the successful completion of 33 loans for municipal energy efficiency projects with no defaults. Loans made for energy efficiency were effective in reducing pollution and energy use from a number of municipal and private sector facilities. Energy efficiency activities also generated significant cost savings for borrowers.