Friday, September 24, 2021
HomeFinanceFurther expansion of the Green Economy Financing Facility for Serbia's households

Further expansion of the Green Economy Financing Facility for Serbia’s households

Households in Serbia are set to benefit from the further expansion of the Green Economy Financing Facility (GEFF) with a new 5 million euros loan in the local currency provided by the European Bank for Reconstruction and Development (EBRD) to ProCredit Bank.

The funds will be available to private borrowers for investments in energy-saving measures such as insulation, windows, heat pumps, solar panels and other solutions. Once the measures are successfully installed, borrowers will be eligible for a grant of up to 20 per cent of the loan amount, funded by the European Union (EU).

“We are pleased to welcome ProCredit Bank to our GEFF programme, which has already helped over 2,200 homeowners in Serbia to improve the energy efficiency of their homes,” said Matteo Colangeli, EBRD Regional Director and Head of Serbia. “We hope that this new credit line will reach even more households, reducing their energy consumption and contributing to better air quality in their communities.”

To date, the GEFF in Serbia has reached more than 2,200 households and provided loans of more than 7.6 million euros for individual projects, via partner financial institutions, that have contributed to savings exceeding 5,800 megawatts-hour (MWh) of energy and a reduction of over 1,700 tonnes of CO2 emissions a year.

“This latest contract with the EBRD is a big step forwards for us as it will bring new energy efficiency technologies closer to our clients,” added Igor Anić, Chairman of the Executive Board of ProCredit Bank. “For many years ProCredit Bank has been committed to financing energy-efficient solutions, to which the best testimony is the amount of our currently active green portfolio, which exceeds 150 million euros. We are confident that the GEFF credit line will further increase our green portfolio and improve the quality of life of our clients.”

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