EBRD lending 3 mln euro to ProCredit Bank Albania for green investments

The European Bank for Reconstruction and Development (EBRD) said on Tuesday it is extending a 3 million euro ($3.2 million) credit line to ProCredit Bank Albania for residential green investments.

The funding will be on-lent to households for investments in energy home improvements, such as wall or roof insulation, new windows, solar panels, heat pumps or cleaner and more efficient boilers, the EBRD said in a press release.

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

The loan will be extended under the Western Balkans Green Economy Financing Facility (GEFF), which is co-financed by the European Union (EU), Austria and bilateral donors of the Western Balkans Investment Framework (WBIF).

($ = 0.9476 euro)

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