Zagrebacka Banka gets 20 mln euro GGF loan for renewables, energy efficiency

The Green for Growth Fund, Southeast Europe (GGF) said on Monday it has approved a 20 million euro ($27.4 million) loan for Croatian lender Zagrebacka Banka [ZSE:ZABA-R-A] to finance renewable energy and energy efficiency projects.

Investments financed through loan are estimated to yield energy savings of up to 34,000 megawatt-hours and reduce CO2 emissions by up to 12,000 tonnes per year, GGF said in a statement.

The loan aims to provide access to medium- and long-term financing to small and medium sized enterprises and corporate clients in the areas of energy efficiency and renewable energy.

The GGF, initiated by the European Investment Bank and Germany’s KfW Entwicklungsbank, aims to enhance energy efficiency and foster renewable energy in Southeast Europe.

($=0.7289 euro)

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