October 6 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it signed an agreement with Kosovo’s microfinance institution Kreditimi Rural i Kosoves (KrK) to provide a loan of up to 2 million euro ($2.3 million) for financing residential energy efficiency projects.
The funds will be on-lent to households for investments in energy-saving technologies as part of EBRD green energy transition (GET) approach, the EBRD said in a statement on Thursday.
The loan will be extended under the Green Economy Financing Facility (GEFF) for the Western Balkans, which supports residential energy efficiency investments in the region.
The EBRD launched GET in 2015 seeking to increase green financing to 40% of its annual business investments by 2020 from 24% in the 10 years to 2016, the bank said.
The EBRD has invested more than 225 million euro in 51 projects in Kosovo. The bank’s strategic priorities in the country are promoting social inclusion, the green economy, economic resilience and regional integration. The majority of the bank’s investments are in the private sector.
($=0.909 euro)