EBRD extends €2 million to Intesa Sanpaolo Banka in Bosnia and Herzegovina

€2 million credit line for residential energy efficiency investments Borrowers receive up to 20 per cent cashback on successful investments Credit line co-financed by the EU, Austria and the Western Balkans Investment Framework

The European Bank for Reconstruction and Development is stepping up efforts to improve energy efficiency in Bosnia and Herzegovina with a new €2 million credit line to Intesa Sanpaolo Banka. The funds will be on-lent to households for investments in energy saving solutions.

Bank clients will be able to apply for financing to invest in energy home improvements, such as wall or roof insulation, new windows, heat pumps or cleaner and more efficient boilers – with the aim of achieving energy savings.

Upon successful completion of the investments, households receive an incentive grant worth up to 20 percent of the loan amount, funded by the EU, which makes these investments more affordable. Additionally, households will benefit from reduced energy bills and more comfort in their homes.

The credit line is part of the Western Balkans Green Economy Financing Facility (GEFF), which promotes energy efficiency improvements in the residential sector, and is co-financed by the European Union (EU) and Austria and bilateral donors to the Western Balkans Investment Framework (WBIF).

Manuela Naessl, EBRD Head of Bosnia and Herzegovina, said: “Saving on energy bills, using energy more efficiently and improving air quality are major topics we are trying to help address in Bosnia and Herzegovina. We welcome Intesa Sanpaolo Banka to our GEFF programme, as the first Intesa Sanpaolo’s bank in the region to have joined, and we look forward to extend with their help this energy efficiency credit line well beyond the 3000 households we have already to date financed here in the country”.

“Our commitment towards increasing the environmental awareness in BiH has made another important step forward with the signing of this innovative GEFF facility with EBRD. Our clients will be entitled to receive a 20 percent cashback upon completing the financing of „green“ investments. We see this as a way to concretely support the energy reconversion in BiH for our clients and is a further step in putting Intesa Sanpaolo Banka BiH in line with the best ESG international practices. We are extremely proud of this cooperation with EBRD and the product itself. Intesa Sanpaolo Banka BiH will be the first bank of the Group to deploy such product for individuals and households in Central-Eastern Europe, which will greatly enrich our existing range of products and services", said Marco Trevisan, President of the Management Board of Intesa Sanpaolo Banka BiH.

To date GEFF has supported over 9000 households in the region, of which 3000 in Bosnia and Herzegovina, to improve energy efficiency over the past four years of their homes. It has financed green technology investments worth over €45 million.