- Investment to provide access to green finance for the country’s residential sector
- Homeowners meeting the energy-saving criteria eligible for up to 20 per cent cashback
- GEFF supported by the EU through the WBIF, Japan, Austria and Switzerland
The European Bank for Reconstruction and Development (EBRD) is extending a €7 million loan to its longstanding partner UniCredit Bank dd Mostar in Bosnia and Herzegovina under the multi-donor Green Economy Financing Facility (GEFF) for the Western Balkans.
The GEFF will provide access to green finance for the country’s residential sector, including individual residents, housing collectives, construction companies and the public sector. UniCredit Bank will mainly target on-lending to households for investments in energy efficiency and renewable-energy initiatives.
In addition to loans, and upon successful implementation of energy-saving criteria, homeowners will be eligible for up to 20 per cent cashback, funded by the European Union (EU) through the Western Balkans Investment Framework (WBIF). Japan and the EU will provide technical and policy support to UniCredit Bank and residential-sector businesses.
Amina Mahmutović, the President of the Management Board of UniCredit Bank d.d. stated: ”Our activities align with our clients’ needs, and we take great satisfaction in offering them opportunities and supporting their journey toward a greener future through financing energy-efficient projects. Our objective is to promote energy efficiency by constructing and modernizing residential buildings, apartments, and structures. We firmly believe that setting an example is the most effective approach, and we remain committed to shaping a sustainable future for our clients, future generations, and the community we serve.’’
Manuela Naessl, Head of the EBRD Resident Office in Sarajevo said: “We are happy to extend this loan to our longstanding partner in Bosnia and Herzegovina, UniCredit Bank. With this signing, UniCredit is the first bank in the country that signs this new credit line and with it underscores its strong commitment to the green energy transition. This credit line will help households in Bosnia and Herzegovina to invest in energy efficiency measures, reducing their carbon footprint and helping them to boost their living standards. while lowering their energy bills.”
The GEFF for the Western Balkans was launched in 2017. Thanks to the facility, in less than seven years, more than 17,500 households in the Western Balkans have invested around €100 million in energy-saving technologies such as insulation, heat pumps, new windows or solar panels. Besides the EU and Japan, the programme is also supported by Austria and Switzerland through the High-Impact Partnership on Climate Action (HIPCA).
UniCredit Bank is a leading bank in Bosnia and Herzegovina and operates through its 69 branches spread across the country with the aim of empowering communities to progress.
The EBRD has invested more than €3 billion in 222 projects in Bosnia and Herzegovina since it began operating there in 1996.
*The HIPCA is supported by Austria, Canada, Finland, the Netherlands, Korea, Spain, Switzerland, TaiwanICDF and the United Kingdom.