PROJECT DESCRIPTION
BACKGROUND
INSPIRenov (FINancial Schemes for Providing Innovation in the Energy Renovation) aims to develop financial instruments and commercial bank products for the energy efficient renovation of residential buildings in Bulgaria. INSPIRenov results will contribute to increased private sector investments and better use of public funding by developing, introducing and testing a blended financing scheme (BFS) to be used in order to provide access to private financing of EE Renovation. The final BFS will be supported by a risk-sharing mechanism and secured by loan-guarantees and other financial instruments. The commercial loan component will be structured in a way to match the homeowners’ financial habits - taking into consideration optimal grant rate intensity from a public budgetary point of view and relevant business interests of commercial banks. The final results of the project will be suitable for streamlined usage by the National Decarbonisation Fund of Bulgaria (NDF) after its establishment and thus will support the ambitious EE renovation strategy for the country as well, fully in line with key reforms, such as the European Green Deal, Renovation Wave and Fit for 55.