EBRD Provides Loan of EUR 5 Million for Energy Efficiency in Serbia

The European Bank for Reconstruction and Development (EBRD) has provided a new credit line worth RSD 588 million for the financing of investments which support the energy efficiency of households in Serbia.

The funds will be available to private borrowers for investments in energy saving measures such as insulation, windows, heat pumps, solar panels and other solutions.

Once the measures are successfully installed, borrowers will be eligible for a grant of up to 20% of the loan amount, funded by the European Union (EU), the EBRD says in its press release.

The EBRD has provided the new EUR 5 million (RSD 588 million) loan in local currency to ProCredit Bank, which has joined the Green Economy Financing Facility (GEFF) program in Serbia.

A total of EUR 135 million is set aside within the GEFF program for the Western Balkans.

Matteo Colangeli, EBRD Regional Director, Head of Serbia, said that the GEFF program had already helped over 2,200 homeowners in Serbia to improve the energy efficiency of their homes.