The EBRD is launching a Green Economy Financing Facility (GEFF) in FYR Macedonia that will provide loans to households for energy efficiency improvements in their homes.
Ohridska Banka Société Générale and Sparkasse Bank Makedonija have signed up as the first two local partner financial institutions, with credit lines of €2 million each for on-lending to homeowners. An additional €4 million in financing is about to be committed with other local banks. These investments will help households to become more energy efficient, decrease their greenhouse gas emissions and improve their living standards. The GEFF programme for FYR Macedonia is part of the €85 million framework for the Western Balkans.
A launch event in Skopje today brought together GEFF stakeholders, including Nicola Bertolini, Head of Cooperation section, EU Delegation in FYR Macedonia, Kocho Angjusev, Deputy Prime Minister in Charge of Economic Affairs, Kreshnik Bekteshi, Minister of Economy, Violeta Kogalniceanu, Head of Infrastructure and Energy Efficiency Unit, Energy Community Secretariat, donors, local state officials, local partner financial institutions, suppliers and producers of green technologies for the residential sector.
Macedonian residents will be able to take out loans from these partner financial institutions for green technology solutions, such as new double-glazed windows, high-efficiency boilers or thermal insulation for their homes.
Families investing in energy efficient technologies will be eligible to apply for an EU grant of up to 20 per cent of their investment. Vendors and producers of energy efficient solutions for the residential sector can also access financing under the GEFF programme. In addition, the programme will provide technical assistance, including energy audits for the renovation of apartment buildings.
GEFF in FYR Macedonia is implemented under the Regional Energy Efficiency Programme for the Western Balkans (REEP Plus), funded by the EU and implemented in partnership with the Energy Community Secretariat. The programme also supports the development of the country’s Energy Efficiency Law in compliance with the European Directives on energy efficiency and performance in buildings. In total, the REEP Plus programme will benefit from €135 million for investments in the residential sector, supported by €30 million in EU funding and €1.8 million from the European Western Balkans Joint Fund, as well as €3.3 million provided by the Austrian Federal Ministry of Finance.
For more information, see www.ebrdgeff.com/macedonia