PRISTINA (Kosovo), January 17 (SeeNews) – The European Bank for Reconstruction and Development (EBRD) said it is providing a loan of up to 1.5 million euro ($1.8 million) to the Agency for Finance in Kosovo (AFK) for financing residential energy efficiency projects.
“The funds will be on-lent for investments in high-performance energy efficiency technologies, materials and solutions in residential dwellings or buildings,” EBRD said in a statement late on Tuesday.
The loan will be extended under the Green Economy Financing Facility (GEFF) for the Western Balkans, a regional facility aiming to reduce energy intensity and improve energy efficiency. GEFF is supported by grant funding from the European Western Balkans Joint Fund under the Western Balkans Investment Framework, the European Union (EU) and Austria.
The fourth largest microfinance institution in Kosovo, AFK was established in 2000 and provides access to finance to micro and small entrepreneurs in Kosovo, especially in rural areas. It serves the entire territory of Kosovo through a network of 20 branches.
The GEFF was established in 2017 with an initial volume of 85 million euro for green economy investments in Albania, Bosnia and Herzegovina, Macedonia, Kosovo, Montenegro and Serbia.
The EBRD has invested more than 300 million euro in 55 projects in Kosovo. The bank’s strategic priorities in the country are promoting inclusion, the green economy, economic resilience and regional integration.
($ = 0.81644 euro)