The European Bank for Reconstruction and Development (EBRD) is providing a €2.5mn loan to ProCredit Bank Kosovo to support on-lending for green investments, the lender said on February 19.
The financing is extended under the EBRD’s Green Economy Financing Facility (GEFF) for the Western Balkans that supports residential energy efficiency investments in a region which suffers from high emissions of greenhouse gases.
The loan is aimed at supporting investments in high-performance green technologies, materials and solutions undertaken in or in relation to privately owned residential buildings, the EBRD said in the statement.
ProCredit Bank Kosovo will use the EBRD loan for on-lending to individuals, housing collectives, producers, vendors of green technologies and service providers for investments supporting the green transition in the country.
“With one of the highest levels of energy intensity in Europe, it is critical that Kosovo seizes opportunities for a green recovery from the coronavirus pandemic,” Neil Taylor, EBRD head of Kosovo, said.
Since 2012, the EBRD has invested €522mn in Kosovo through 75 projects to support the competitive development of the private sector which is one of the bank’s key priorities in the country.
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