EBRD, EU and Austria finance energy savings in Bosnia and Herzegovina
€2 million loan to ProCredit Bank dd BiH for investments in energy efficiency Additional EU-funded cashback incentive worth up to 20 per cent of loan amount GEFF supported by EU, Austria and Western Balkans Investment Framework
The European Bank for Reconstruction and Development (EBRD) is supporting investments in residential energy efficiency improvements in Bosnia and Herzegovina with a €2 million loan to ProCredit Bank dd BiH.
The funds will be made available to clients for investments in insulation, windows, heat pumps, solar panels and other improvements, with a view to increasing the energy efficiency of their homes and reducing energy intensity. After successful implementation borrowers will be eligible for a grant of up to 20 per cent of the loan amount, funded by the European Union (EU).
The financing is secured by the €135 million Green Economy Financing Facility (GEFF) programme for the Western Balkans, which supports energy-efficient solutions to build a greener and more sustainable economy. The programme is supported by the EU, the Western Balkans Investment Framework (WBIF) and the Austrian Federal Ministry of Finance, and is part of the Regional Energy Efficiency Programme (REEP) for the Western Balkans.
Manuela Naessl, EBRD Head of Bosnia and Herzegovina, said: “We are pleased to work again with ProCredit Bank and to see that favourable financing will be made available through our GEFF line to households in Bosnia and Herzegovina for investments in energy efficiency measures, leading to a better quality of life, but also lower electricity bills. In a country where air pollution and high energy intensity are prevalent, this is extremely important. This loan is part of the EU’s Green Agenda for the Western Balkans, and we will continue working closely with our partners, the EU, Austria and the WBIF, to improve energy efficiency across all sectors of the economy and to lower energy intensity in the region.”
Amir Salkanović, President of the Management Board of ProCredit Bank, said: “ProCredit has been committed to protecting the environment and energy efficiency and reducing CO2 emissions, as one of the leading banks in financing environmentally friendly projects for entrepreneurs in Bosnia and Herzegovina. We have also helped preserve the environment by using hybrid vehicles and other measures within our organisation. We are therefore proud to sign a new credit line for energy efficiency improvement with the EBRD to ensure that many households in Bosnia and Herzegovina can achieve higher energy efficiency standards. Under certain conditions, clients will have the opportunity to replace heating systems in their households, install energy-efficient windows and doors, and reduce costs”.
To date, the GEFF in Bosnia and Herzegovina has reached more than 2,300 households and provided loans of more than €8 million for individual projects through partner financial institutions. These have contributed to more than 6,000 MWh of energy savings and a reduction of more than 2,100 tonnes of CO2 emissions per year. The most frequently financed technologies are windows and doors, insulation, biomass boilers and heat pumps.