Thursday, August 11, 2022

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A new loan to support domestic energy efficiency in Kosovo

More homeowners in Kosovo will be able to invest in domestic energy efficiency improvements thanks to a new 5 million euros credit line the European Bank for Reconstruction and Development (EBRD) is extending to Raiffeisen Bank Kosovo.  

“Kosovo simply cannot afford to miss the possibility of a green recovery from the crisis,” said Neil Taylor, EBRD Head of Kosovo. “I am proud we are now partnering with Raiffeisen to help people here improve their homes and save bills. With the support of our European donors, our goal is to spur a building renovation wave across the country and tackle the blight of poor air quality and pollution.”

Raiffeisen Bank will lend the funds to privately owned households for investment in energy efficiency measures, such as insulation, windows, heat pumps and solar panels. Upon successful completion of the projects, borrowers will be eligible for up to 20 per cent cashback.

The financing is part of a larger 135 million euros Green Economy Financing Facility (GEFF) programme for the Western Balkans, which supports energy-efficient solutions to build a greener and sustainable economy. To date, more than 1,000 households in Kosovo have already made energy efficiency improvements to their homes using GEFF loans.

Overall, more than 8,000 households in the Western Balkans have improved their energy efficiency through the GEFF programme, with investments in projects that contributed to a reduction of nearly 12,000 tonnes of CO2 emissions per year, equivalent to removing 7,270 cars from the street.

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