EBRD boosts W. Balkans GEFF's capacity to 415 mln euro

"The funding will be channelled through local partner financial institutions (PFI), allowing even more households in the region to improve the energy efficiency of their homes," the EBRD said in a press release on Thursday.

In less than seven years since the launch of the programme in 2017, more than 18,000 households in the Western Balkans have invested over 100 million euro in energy-saving measures such as insulation, heat pumps, new windows and solar panels. the EBRD said, adding that these measures helped reduce CO2 emissions by more than 25,000 tonnes a year and were producing annual energy savings of 70,000 MWh.

"Given that the residential sector is one of the largest contributors to energy consumption in the Western Balkans, we will continue to increase our support in this area, with the GEFF acting as one of our key pillars for the improvement of energy efficiency in the residential sector”, said EBRD director of financial institutions for the Western Balkans and Eastern Europe, Aleksandra Vukosavljevic.

The Western Balkans GEFF was established in 2017 by the EBRD with the support of donors and provides specialist credit lines for green investment by the residential sector and the public sector.

($ = 0.9224 euro)