The European Bank for Reconstruction and Development (EBRD) is helping to boost much-needed energy efficiency investments in Kosovo through a €2 million loan to Kreditimi Rural i Kosoves (KRK), a microfinance institution focusing on rural areas of the country.
KRK will on-lend the funds to homeowners and service providers to improve energy efficiency in residential buildings. Homeowners, housing collectives, producers, vendors and service providers of green technologies will be able to invest in a wide range of energy efficient solutions, such as insulation, windows, heat pumps and solar panels.
The European Union and bilateral donors provide funds through the Western Balkans Investment Framework (WBIF) to help beneficiaries identify and verify the best available equipment. This includes incentive payments of up to 20 per cent of the loan value upon successful installation. Furthermore, the Austrian Federal Ministry of Finance provides additional funds for technical assistance.
The financing is part of the Green Economy Financing Facility (GEFF) programme for the Western Balkans, which consists of credit lines totalling €135 million to build a greener and more sustainable economy across the region.