The European Bank for Reconstruction and Development (EBRD) is introducing a 20 mln euro credit program for improving energy efficiency in the industry in Bulgaria, James Hislop, EBRD director for Bulgaria said.

Credits under the program will be given to two banks – Unicredit Bulbank and United Bulgarian Bank. The banks, on the other hand, will be giving loans to companies in the private sector for projects related to energy efficiency at an attractive cost.

The program will be launched by 2009, BTA is reporting.

About 40 projects are expected to apply for the credits, the maximum size of a loan is 2.5 mln euros.