BEEF Pursues Substantial Reduction of Greenhouse Gases

BEEF Promotes the Development of a Working Energy Efficiency Market in Bulgaria

The Bulgarian Energy Efficiency Fund (BEEF) was established through the Energy Efficiency Act adopted by the Bulgarian Parliament in February 2004. The initial capitalization of BEEF is entirely with grant funds, its major donors being: the Global Environment Facility through the International Bank for Reconstruction and Development (the World Bank) - USD 10 million; the Government of Austria - Euro 1.5 million; the Government of Bulgaria - Euro 1.5 and several private Bulgarian companies. 

BEEF has the combined capacity of a lending institution, a credit guarantee facility and a consulting company. It provides technical assistance to Bulgarian enterprises, municipalities and private individuals in developing energy efficiency investment projects and then assists their financing, co-financing or plays the role of guarantor in front of other financing institutions.

The underlying principle of BEEF's operations is a public-private partnership. The Fund pursues an agenda fully supported by the Government of Bulgaria, but it is structured as an independent legal entity, separate from any governmental, municipal and private agency or institution.