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Three Decades of Impact: National Trust EcoFund Marks 30 Years of Environmental Action

2 jun 2025 In the media

The National Trust EcoFund (NTEF), Bulgaria’s pioneering environmental financing body, is celebrating 30 years since its founding under the landmark Debt-for-Environment agreement with Switzerland. Established in 1995, the Fund has financed over 500 projects across more than 150 municipalities, supporting initiatives that tackle climate change, biodiversity loss, water management, and the rehabilitation of past environmental damage. "In addition to its role as a financing institution, the National Trust EcoFund is also an active participant in the development and updating of environmental protection policies. This ensures a comprehensive, holistic approach to solving specific environmental problems," Executive Director Maria Minkova explained in a BTA interview.

She noted that since the establishment of the Fund in 1995 to transform a portion of Bulgaria’s external debt into environmental protection projects, more than 500 projects have been implemented across over 150 municipalities. The average percentage of funding provided by the Fund to date amounts to approximately 46%.

Minkova outlined four key priorities: reducing air pollution and adapting to climate change, protecting biodiversity, managing water resources including geothermal potential, and eliminating past pollution.

As the only provider of grant funding for municipal infrastructure projects utilizing geothermal energy, NDEF has a unique role. It also supports energy efficiency projects, particularly in public institutions. "Today, electric vehicles are widely accepted, but when we launched our program, public institutions needed to lead by example," said Minkova.

One of the Fund’s hallmark successes is a pilot project in Gabrovo for full-scale modernization of street lighting under an ESCO contract. "The project was completed in April 2022 and achieved annual CO₂ savings of 1,399.22 tons—exceeding projections by over two tons," she noted. New ESCO-based energy projects are planned for 2025 in Gotse Delchev and three villages in Pancharevo municipality.

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