Bulgaria's Economy Ministry launched the Energy Efficiency and Green Economy Programme under which local SMEs can receive €300m for energy efficiency projects. The Bulgarian government will grant a total of €150m available from EU structural funds and this sum will be complemented by a credit line of up to €150m provided by the EBRD. According to the EBRD, the programme is designed to assist Bulgarian SMEs to reduce their energy consumption and carbon foot print and it is also expected to have an important demonstration effect of using highly efficient technologies as a means of improving competitiveness. Upon a project's successful implementation the SMEs will receive grants of 30% to 50% of the eligible project costs. The grants will be managed by the Bulgarian Economy Ministry.