EBRD to lend EUR 4m for sustainable energy projects in Macedonia

(ADPnews) - May 11, 2011 - The European Bank for Reconstruction and Development (EBRD) said yesterday it would extend a EUR-4-million (USD 5.7m) loan to Macedonia-based NLB Tutunska Banka to support sustainable energy projects in the Balkan country.

The facility will be used for on-lending to the private sector for investments in industrial energy efficiency, energy efficiency in commercial buildings and small renewable energy projects.

The loan will be provided under the Western Balkans Sustainable Energy Credit Line Facility (WeBSECLF), a joint programme of the EBRD and the European Commission (EC) to extend up to EUR 60 million in loans to banks involved in lending for energy efficiency and renewable energy projects in Serbia, Bosnia and Herzegovina, Macedonia and Montenegro.

The EBRD loan to NLB Tutunska Banka will be supported by grant funding from the EC that will help the preparation and implementation of projects, the bank said but did not disclose the value of the grant.

(EUR 1.0 = USD 1.437)

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