EBRD lending 2 mln euro to Bosnia's ProCredit Bank for green investments

The European Bank for Reconstruction and Development (EBRD) said on Friday it is extending a 2 million euro ($2.4 million) loan to Bosnia's ProCredit Bank for residential energy efficiency investments.

The loan, provided under the EBRD’s Green Economy Financing Facility (GEFF), will be used to finance investments in energy efficiency in privately-owned houses, such as insulation, windows, heat pumps and solar panels, the EBRD said in a statement.

In addition, borrowers will be eligible for up to 20% cashback on successful project completion through funding provided by the European Union.

GEFF is implemented under the umbrella of the Regional Energy Efficiency Programme for the Western Balkans (REEP Plus), funded by the EU, the Western Balkans Investment Framework (WBIF) and the Austrian Federal Ministry of Finance.

To date, GEFF has provided loans of more than 8 million euro for more than 2,300 individual projects in Bosnia and Herzegovina that contributed to savings of over 6,000 MWh of energy and a reduction of over 2,100 tons of CO2 emissions per year, the EBRD said.

($ = 0.8442 euro)

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