Scratchpad ()

A mere 13 owners applied for cheap building renovation credits

Finance and Taxes

Cheap loans that were supposed to stimulate more people to take part in the EU-funded residential building renovation programme have not become very popular so far. A mere 13 owners applied for a residential energy efficiency loan by end-July, sources from Corporate Commercial Bank (CCB) told.

The bank manages a fund with slightly over BGN 13.5 million under OP Regional Development that secures the loans. Around BGN 3 million of this amount covers the bank's expenses, thus the available crediting resource is BGN 10.5 million – BGN 9.5 million of EU funding and BGN 1 million of co-financing by CCB.