EBRD lending 2 mln euro to N. Macedonia's Procredit Bank for green investments

The European Bank for Reconstruction and Development (EBRD) said it is providing a loan of 2 million euro ($2.4 million) to North Macedonia’s Procredit Bank for private energy efficiency investments.

The loan will provide financing for on-lending to homeowners for investments supporting energy efficiency improvements in residential buildings, such as insulation, windows, heat pumps and solar panels, the EBRD said in a statement on Monday.

Borrowers will also be eligible for up to 20% cashback on successful installation, financed by the EU.

The financing is provided under the EBRD’s Green Economy Financing Facility (GEFF) for the Western Balkans.

GEFF is a 135 million euro programme co-financed by the EU, the Western Balkans Investment Framework and the Austrian Federal Ministry of Finance. It is implemented under the umbrella of the Regional Energy Efficiency Programme for the Western Balkans.

($ = 0.8425 euro)

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