EBRD, Erste Bank Serbia partner to finance energy-saving home improvements

Erste Bank Serbia has become the first bank in the country to receive EBRD financing for home energy efficiency through a 600 million dinars (equivalent to 5 million euro) loan for on-lending to residential clients, the bank said.

The loan comes under the EBRD's 85 million euro Green Energy Financing Facility for the Western Balkans, implemented in partnership with the Energy Community Secretariat, the bank said in a statement on Friday.

The initiative is designed to help households, housing associations and service providers in Serbia invest in energy efficiency measures and renewable energy projects.

Erste Bank’s energy efficiency loans are aimed at citizens planning to invest in energy efficient solutions for their homes, such as replacing windows or doors, facade retrofitting, procuring heating equipment or thermal insulation material, photovoltaic panels, heat pumps, energy-saving lighting and other measures resulting in increased efficiency and savings, the lender explained.

Incentives and technical cooperation in support of green technology investments will be provided by the European Union, the Austrian ministry of finance and the European Western Balkans Joint Fund under the Western Balkans Investment Framework.

The EBRD is a leading institutional investor in Serbia. To date the bank has invested 4.7 billion euro across some 200 projects in the country. In 2017 alone the bank provided over 380 million euro to more than 20 projects across various sectors of the Serbian economy.

($=0.857292 euro)

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