- EBRD loan of €2.5 million to ProCredit Bank Kosovo
- Loan under Green Economy Financing Facility
- Building a green, competitive and well-integrated economy in Kosovo
The European Bank for Reconstruction and Development (EBRD) is supporting green investments in Kosovo with a €2.5 million loan to ProCredit Bank Kosovo (PCBK), a development-oriented commercial bank and part of Germany’s ProCredit Holding.
The funds will support investments in high-performance green technologies, materials and solutions undertaken in or in relation to privately owned residential buildings.
The financing is extended under the EBRD’s Green Economy Financing Facility (GEFF) for the Western Balkans which supports residential energy efficiency investments in a region that includes some of the most energy-intense countries in Europe and suffers from high emissions of greenhouse gases.
The new EBRD loan will be on-lent to individuals, housing collectives, producers, vendors of green technologies and service providers for investments supporting the green transition in Kosovo. The financing will be supported by grant funding from the European Western Balkans Joint Fund under the Western Balkans Investment Framework, the European Union (EU) and Austria.
Neil Taylor, EBRD Head of Kosovo, said: “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. This partnership with ProCredit will enable local people to make their homes more energy efficient and will crowd in the private sector as we build back better.”
The GEFF programme operates through a network of more than 145 local financial institutions across 27 countries, supported by more than €4.6 billion of EBRD finance for 190,000 clients to date. These projects have led to annual CO2 emission reductions of more than 8.6 million tonnes.
To date, the EBRD has invested €522 million in Kosovo through 75 projects since it began operations there in 2012. Supporting the competitive development of the private sector is one of the Bank’s key priorities in the country.