REECL, Bulgaria

This project facilitated lending to individuals, home owner associations, utilities, ESCOs, SME and LE for  “green economy” improvements. The REECL credit facilities were complemented by KIDSF grant of EUR 18 million primarily for payment of incentive grants to the Sub-borrowers after verification by IVEL Consult.

IVEL Consult’s experts prepared the whole web-based project infrastructure; loan products, operational procedures and implementation tools, trained the loan officers and eligible installers; promoted the project together with the participating banks, administered the implementation, selection, verification, monitoring and reporting; ensured that the technical criteria of the Facility were clearly defined, consistently applied and updated; and potential Sub-borrowers and Eligible Installers were well informed of the eligibility requirements; loans processed according to the REECL procedures; established an interactive web-based efficient tracking, monitoring and reporting system, compatible with the computer systems of the participating banks, to ensure accurate data and standard forms were utilised and grant funding applied consistently with the eligibility criteria.