Financial Energy Efficiency Boost for Balkans

BALKAN states are receiving a €10 million energy efficiency boost thanks to the European Bank of Reconstructions and Development (EBRD).

UniCredit Bank d.d. Mostar is joining the new Western Balkans Sustainable Energy Efficiency Facility II (WeBSEFF II) with the loan from the EBRD. The funds will be on-lent to private and municipal borrowers for energy efficiency and renewable energy investments.

The Facility has a total loan volume of €75 million provided from the EBRD and is further supported by €11.5 million in grant funds provided by the European Union.

The program covers the countries of Albania, Bosnia and Herzegovina, Croatia, FYR Macedonia, Kosovo, Montenegro and Serbia. Significant potential for energy efficiency investments remains untapped in the region, while a number of barriers remain in these states.

The structure of WeBSEFF II has been designed to address those barriers, maximise the energy-saving potential of the program, open up new markets and ensure that scarce grant resources are allocated in a more efficient and effective way.

Picture of reconstructed bridge in Mostar by Fer.filol (Own work) [GFDL, CC-BY-SA-3.0 or CC-BY-SA-2.5-2.0-1.0], via Wikimedia Commons

Monday 4th November 2013

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