OPIC ENVIRONMENTAL INVESTMENT FUND IN BULGARIA

UNCLAS SOFIA 000667 STATE PLEASE PASS OPIC WPIERCE AND JHANSLEY SIPDIS E.O. 12958: N/A TAGS: ENRG EINV PGOV BU SUBJECT: OPIC ENVIRONMENTAL INVESTMENT FUND IN BULGARIA REF: STATE 103210 ¶1. The following is post's evaluation of the role of OPIC's proposed renewable energy fund in Bulgaria, as requested in reftel. OPIC's proposed environmental fund would enhance Bulgaria's ability to meet ambitious EU targets on climate change. We understand that through its support for the Global Clean Energy Fund, OPIC will direct funds to projects related to the production of biomass, small hydro, geothermal, and bio-fuels in the region of Central and Eastern Europe, including Bulgaria. The proposed OPIC program is a timely and needed innovation that will help Bulgaria develop alternative energy sources. As such, it will be greeted positively in Bulgaria by both government and private sector actors. MCELDOWNEY