EBRD approves 3 mln euro loan to ProCredit Bank Albania

The European Bank for Reconstruction and Development (EBRD) said on Thursday it has approved a senior unsecured loan of up to 3 million euro ($3.1 million) to ProCredit Bank Albania for residential green investments.

The funding will back investments in high-performance green technologies, materials and solutions undertaken in privately owned residential dwellings or buildings, the EBRD said in a project summary document.

The loan will be extended in three equal tranches under the Western Balkans Green Economy Financing Facility (GEFF) II.

GEFF is a 135 million euro programme co-financed by the EU, the Austrian Federal Ministry of Finance, and bilateral donors to the Western Balkans Investment Framework (WBIF). It is implemented in partnership with the Energy Community Secretariat under the umbrella of the Regional Energy Efficiency Programme for the Western Balkans (REEP Plus).

($ = 0.9578 euro)

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