On 6th of February, the European Bank for Reconstruction and Development (EBRD) held a workshop in Sarajevo on “Women’s Access to Climate Finance in Bosnia and Herzegovina”, as part of the Western Balkans Green Economy Financing Facility III programme (GEFF).
The event was organised with the aim to discuss the progress and mainstreaming of gender-responsive climate finance in Bosnia and Herzegovina and to present the findings of the EBRD’s survey on women’s access to climate finance “Gender Baseline Assessment”.
The survey findings show that the gender gap in green finance in Bosnia and Herzegovina is significant with women making up for only 36% of green loans, despite their higher awareness and concern regarding climate change, compared to men. Disparities in women’s access to green financing in Bosnia and Herzegovina are influenced by traditional gender roles, socio-economic barriers, and systemic inequalities, the Gender Baseline Assessment highlights.
“Globally, women are in underprivileged position when it comes to access to land, business facilities, technologies and therefore their potential to contribute to the economy and particularly sectors with high impact on climate change, such as transport, construction, remains underutilised”, Stela Melnic, EBRD Head of Bosnia and Herzegovina, said. “The EBRD, in collaboration with local banks, is working to improve women’s access to green finance through specialized credit lines, grants, and risk coverage”.
Stela Melnic, EBRD Head of Bosnia and Herzegovina.
Despite their concern about climate change, women often feel less confident in their technical knowledge of green technologies and are excluded from decision-making on significant household investments, as they are not typically seen as formal income providers or household heads. Women’s reliance on informal networks for financial information further limits their access to formal green financing opportunities.
The presentation of the Baseline Assessment offered key recommendations for overcoming barriers for women’s access climate finance, including that financial institutions can leverage implement gender-responsive marketing, informal channels, and strengthening awareness of funding opportunities tailored to women. Efforts should also focus on addressing gender biases in financial procedures, providing subsidies for green investments, and strengthening cooperation with local governments to support women’s access to finance. Promoting women’s leadership in green transitions and improving data collection on gender disparities will further empower women and ensure their participation in the green economy.
The workshop concluded with a panel discussion highlighting the role of women in mitigating the effects of climate change. The panel participants discussed the challenges that need to be addressed to promote equal access to green finance in Bosnia and Herzegovina and what role national stakeholders and private financial institutions can play in addressing these barriers and promoting the uptake of green finance by women sub-borrowers.
Panel discussion.
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About the survey
The Gender Baseline Assessment conducted as part of the GEFF programme informs about the differentiated needs of women and men in the face of climate change and raises awareness on the benefits of green technologies and gender gaps in accessing climate finance.
EBRD’s Western Balkans Green Economy Financing Facility III (GEFF) provides homeowners and housing associations with loans and grant incentives for investments in energy-saving technologies, in cooperation with local partner banks. In Bosnia and Herzegovina, GEFF has provided over 9,000 families with the opportunity to reduce their energy costs, improve their living standards, and contribute to the country’s environmental sustainability goals. Gender considerations are integrated in the GEFF Western Balkans III programme to ensure equal access to climate finance for both men and women.
EBRD GEFF in the Western Balkans is co-funded by the European Union through the Western Balkans Investment Framework, Austria, Denmark, Japan, and Austria and Switzerland through the High-Impact Partnership on Climate Action (HIPCA)*.
*The EBRD’s High-Impact Partnership on Climate Action (HIPCA) is supported by Austria, Canada, Finland, Germany, the Netherlands, South Korea, Spain, Switzerland, the TaiwanICDF, the United Kingdom and the United States of America.
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