Translated version of this PSD: Croatian
The EBRD will provide senior loans for a total amount of up to EUR 60 million to financial institutions operating in Croatia, which will on-lend EBRD funds to individuals or vendors for energy efficiency projects in the residential sector.
Significant challenges remain with respect to energy efficiency in Croatia. There is a significant potential for energy efficiency improvement in the residential sector which is among the largest energy end-users. In accordance with the NEEAP (National Energy Efficiency Action Plan) 34% of the overall energy saving target for Croatia should come from the residential sector. The proposed facility aims to address the need for continued energy efficiency improvements in the residential sector in line with this goal.
The facility will generate transition impact by demonstrating the benefits of energy conservation and promoting the expansion of energy efficiency (EE) lending to households in Croatia which is characterised by a significant EE potential in the residential sector.
It will further demonstrate to commercial banks operating in Croatia the market potential of the EE sector and foster the mobilisation of the private sector financing for this, currently underserved, sector.
The project will also promote the development of a market for EE technologies, appliances and equipment by stimulating demand through market awareness campaigns and the introduction of an innovative and efficient financing model for high-performance residential energy efficiency technologies.
In addition, the project is expected to transfer and build expertise and skills on several levels:
(i) participating banks will build expertise in assessing the risks and benefits associated with small scale EE investments;
(ii) transfer of knowledge and technical skills amongst local experts will further build local expertise in appraising sustainable energy projects and applying best available technologies.
It is envisaged that three banks will participated in the facility.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Categorised FI . All Participating Financial Institutions (PFIs) under the SEFF will be required to comply with EBRD's PRs 2, 4 and 9. Eligible Sub-projects will be required to comply with national environmental, health and safety, social and labour regulations as well as the EBRD's energy efficiency and/or renewable energy eligibility criteria. All PFIs will be required to submit Annual Environmental and Social Reports to the Bank.
The Project is supported by a TC of up to EUR 1.8 million. Out of EUR 1.8 million, 600,000 were allocated from SSF budget. Three consultants will support the implementation of the Facility. Two consultants have already been engaged for the project preparation phase. Another consultant will execute the implementation support including marketing and general awareness raising activities; support with pipeline development; capacity building for participating banks; support the administration, monitoring and reporting on the Facility.
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