Albania's Fondi BESA to get 1.5 mln euro loan to back energy efficiency projects – EBRD

“The new financing for Albania is provided under the EBRD’s 85 million euro Western Balkans Green Economy Financing Facility (GEFF),” the EBRD said in a press release.

Green investments in houses in Albania will be boosted by the first disbursement under the GEFF programme, the statement added.

“The total loan amount is 3 million euro,” the lender noted, adding that the investments are expected to lead to energy savings of more than 68,000 MWh per year and the reduction of annual greenhouse gas emissions by more than 21,250 tonnes of CO2.

Fondi BESA has more than 32,200 clients in Albania with a loan book of 87 million euro and assets of 107 million euro, the lender noted. The microfinance company has been an EBRD partner since 2010 and provides micro-lending to individuals and small businesses across Albania.

“The programme is a joint initiative of the European Union (EU), bilateral donors and beneficiary countries cooperating under the Western Balkans Investment Framework (WBIF) and is implemented in partnership with the Secretariat of the Energy Community,” the statement noted, adding that the Austrian finance ministry will provide incentives and technical cooperation in support of green technology investments.

The GEFF programme operates through a network of more than 130 local financial institutions across 26 countries supported by almost 4 billion euro of EBRD finance. This has enabled more than 120,000 clients to save a total of almost 7 million tonnes of CO2 emissions a year.

The EBRD has invested 1.2 billion euro in 84 projects in Albania, where it focuses on the sustainable development of the private sector, enhancing the commercialisation of infrastructure projects and promoting sustainable energy and environmentally sound investments.

($=0.88245 euro)