EBRD lending 2 mln euro to Kosovo's AFK for green investments

The European Bank for Reconstruction and Development (EBRD) said on Monday it is extending a credit line of 2 million euro ($2.4 million) to microfinance institution Agency for Finance in Kosovo (AFK) for residential energy efficiency investments.

The credit line, provided under the EBRD’s Green Economy Financing Facility (GEFF), will be used to finance investments in energy efficiency in privately-owned houses, such as insulation, windows, heat pumps and solar panels, the EBRD said in a statement.

In addition, borrowers will be eligible for up to 20% cashback on successful project completion through funding provided by the European Union.

GEFF is implemented under the umbrella of the Regional Energy Efficiency Programme for the Western Balkans (REEP Plus), funded by the EU and implemented in partnership with the Energy Community Secretariat.

To date, GEFF has provided loans of more than 7.7 million euro for more than 960 individual projects in Kosovo that contributed to savings of over 9,010 MWh of energy and a reduction of over 3,100 tons of CO2 emissions per year, the EBRD said.

($ = 0.8385 euro)

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