Financial Instruments as Enablers of Market-Based Renovation
How Bulgaria’s National Building Renovation Plan and the INSPIRenov co-developed blended financing mechanism are shaping the transition from grant-dependent support to sustainable renovation finance
From grant dependency to blended finance
Bulgaria’s approach to building renovation is undergoing a structural shift. The National Building Renovation Plan sets out not only renovation targets, but also a financing trajectory: a gradual transition from predominantly grant-based renovation support towards a more diversified architecture combining public resources with private capital.
INSPIRenov has been working in parallel with this policy direction. Through a co-development process involving the Fund of Funds, the Ministry of Regional Development and Public Works and commercial banks, the project has developed a structured blended financing mechanism for the energy renovation of multifamily residential buildings. This newsletter brings these two threads together: the national policy logic and INSPIRenov’s contribution to making that logic more operational.
The fourth issue of the newsletter can be viewed HERE.