The European Bank for Reconstruction and Development (EBRD) is providing a loan of €2 million to ProCredit Bank for on-lending to homeowners in North Macedonia for energy-efficiency investments. The credit line is part of the Green Economy Financing Facility (GEFF) programme.
The funds will be available to private borrowers to invest in energy-saving measures, such as insulation, windows, heat pumps and solar panels. These investments will promote energy-efficiency improvements in residential buildings, helping to reduce greenhouse gas emissions and improve homeowners’ quality of life. Once the measures have been implemented, borrowers will be eligible for a grant of up to 20 per cent of the loan amount, funded by the European Union (EU).
The financing is secured by the €135 million GEFF programme for the Western Balkans, which is co-financed by the EU, the Western Balkans Investment Framework (WBIF) and the Austrian Federal Ministry of Finance, and is part of the Regional Energy Efficiency Programme (REEP) for the Western Balkans. The aim of the programme is to help the region ‒ known for its high energy intensity ‒ to improve energy efficiency in its residential sector, one of its biggest energy consumers.