World Bank Approves Loan of USD 50 Million to Serbia for Clean Energy

The World Bank has announced that its Board of Directors approved yesterday a USD 50 million equivalent loan to Serbia for the Scaling Up Residential Clean Energy (SURCE) Project.

– To help Serbia advance its strategic goals to decarbonize the economy and include more citizens in the energy transition, the World Bank Board of Directors approved today a USD 50 million equivalent loan for the Scaling Up Residential Clean Energy (SURCE) Project – the press release says.

It is added that the project is designed to lead to energy savings, increased comfort, and warmer homes for residents through investments in clean and efficient heating solutions and rooftop solar photovoltaic systems, in a shift away from air-polluting fossil fuels that dominate Serbia’s energy mix.

– The residential sector in Serbia has a large untapped potential for energy efficiency improvements: households account for about one-third of Serbia’s final energy consumption, with about three-quarters of the energy they consume used for heating purposes – said Nicola Pontara, World Bank Country Manager for Serbia.

Sustainable heating investments are expected to reach 25,000 households during the five years of the project. Some 2,500 households will receive social inclusion “top-up grants”, supporting the most vulnerable citizens, and 3,000 households are expected to shift away from traditional solid fuel heating solutions.

Rooftop solar photovoltaic installations are expected to add 4 MW in installed renewable energy capacity.

Svetska Banka-WB Beograd

World Bank

World Bank Board of Directors

World Bank office in Serbia

Scaling Up Residential Clean Energy Project

SURCE Project

clean energy

energy efficiency

energy savings

roof solar panels

fossil fuels

air pollution

Nicola Pontara

sustainable heating

social inclusion

solid fuel heating

renewable energy sources

thermal insulation

wood based central heating

emission of PM particles

coal

fuel wood

Western Balkans

replacement of joinery

thermal insulation of walls and roofs