EBRD provides €2.5mn loan to ProCredit Bank to support green investments

EBRD provides €2.5mn loan to ProCredit Bank to support green investments
By bne IntelliNews February 20, 2021

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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EIF signs guarantee agreements with 11 banks in Western Balkans, unlocking €750mn for small businesses

The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more

EIB surpasses investment milestone in the Western Balkans by investing €1.2bn in 2023

EIB Global, the financial arm of the European Investment Bank (EIB) for activities beyond the EU, set a new record by investing €1.2bn in the Western Balkans in 2023, the EIB said on February 9. ... ... more

bne IntelliNews Southeast Europe Outlook 2024

This Southeast Europe Outlook 2024 has been prepared by bne IntelliNews as part of a series of annual reviews providing updates on the geopolitical, macroeconomic and commercial state of ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    6 days ago
  2. Saudi Arabia to scale back plans for Neom city
    10 days ago
  3. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  4. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    6 days ago
  5. Russia’s war economy boosted by rising oil prices
    4 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    24 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    29 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    23 days ago

Reports

Dismiss