25,000 families across Western Balkans now have warmer and greener homes thanks to EBRD, EU and donor support

• A total of 25,000 families across the Western Balkans have made their homes warmer, more affordable and more energy efficient thanks to Green Economy Financing Facility loans
• Milestone marked by visit to a family in Vrčin, near Belgrade, that installed rooftop solar panels
• EBRD, EU and 3 Banka support is helping households reduce bills, use cleaner energy and develop greener homes

A total of 25,000 families across the Western Balkans are now benefiting from warmer, more affordable and more energy-efficient homes thanks to improvements financed through the Green Economy Financing Facility (GEFF), supported by the European Bank for Reconstruction and Development (EBRD), the European Union (EU) and other donors.

For many households, these investments have enabled practical changes whose benefits are being felt every day: lower energy bills, better heating and cooling, cleaner energy produced at home and an improved living environment.

The regional milestone was marked with a visit to the family in Vrčin, near the Serbian capital Belgrade, that became the 25,000th household in the region to benefit from GEFF financing. With support from 3 Banka, the family installed rooftop solar panels, helping them generate cleaner energy at home and reduce their energy bills.

Their story reflects the wider impact of GEFF across the region. From better insulation and high-efficiency windows to heat pumps, biomass systems and solar panels, the programme is helping households invest in practical green technologies that improve everyday living conditions while reducing energy consumption and emissions.

Slađana Stojanović, who is part of the household that received the 25,000th loan, said: “We share this home with our son and his family. As he works in the construction industry, he is familiar with new technologies, and he encouraged us to invest in solar panels. We had no doubts about the idea, and being able to apply for a loan from 3 Banka made the whole process very easy for us.”

Speaking about the benefits of the investment, Slađana said: “We used to spend €100 each month on electricity, now we spend only €25. We also invested in a heat pump to replace our old wood and coal stove, and we expect to see even bigger savings this winter when we start using a heat pump.”

GEFF is designed to make this kind of investment easier for households. The EBRD provides financing to local partner banks and microfinance institutions that then lend to families and homeowners. Households can also receive investment grants funded by the EU and other donors, helping make green technologies more affordable. By working with local financial institutions such as 3 Banka, the EBRD and its donors are helping households to access financing for green technologies that might otherwise be difficult to afford.

Aleksandra Vukosavljević, EBRD Director for Financial Institutions in the Western Balkans and Eastern Europe, said: “Behind this milestone are 25,000 households that have been able to make their homes warmer, greener and more affordable to run. The family in Vrčin is a powerful example of how access to green finance can make clean energy solutions practical for people’s everyday lives. Together with the EU, our donors and partner banks such as 3 Banka, we are helping more families across the Western Balkans to take part in the green transition.”

"Reaching 25,000 households is an important milestone that shows how EU support is helping families across the Western Balkans benefit directly from the green transition. The story of the family in Vrčin shows in a very tangible way what this means in practice: lower energy bills, greater comfort at home and cleaner energy for the future. This is exactly the kind of practical investment in people, communities and long-term resilience that the European Union is proud to support in Serbia and across the region,” said Andreas von Beckerath, Ambassador of the European Union to the Republic of Serbia.

The Western Balkans remains a key region for residential energy-efficiency investments. The residential sector is one of the region’s largest energy consumers, and many homes still need modern, efficient technologies to reduce energy waste and improve comfort. Through GEFF, households are able to choose eligible technologies and work with local banks to finance improvements suited to their needs.

Since the launch of GEFF in 2017, the EBRD has signed €280 million of GEFF loans with 38 partner financial institutions. The EBRD’s GEFF programme in the Western Balkans is co-funded by the EU through the Western Balkans Investment Framework, Austria, Denmark, Japan, and Austria and Switzerland through the High-Impact Partnership on Climate Action (HIPCA)*.

*The EBRD’s HIPCA is supported by Austria, Canada, Finland, Germany, the Netherlands, South Korea, Spain, Switzerland, the TaiwanICDF, the United Kingdom and the United States of America.