Over 3,100 households in densely populated Kosovo are cutting their energy bills and enjoying more comfort at home after investing in energy-saving improvements through the Kosovo Sustainable Energy Projects (KoSEP).
The energy efficiency credit available through KoSEP is worth €12 million. The facility incentivises homeowners to take the necessary steps and to bypass investment hurdles, the facility provides a one-stop-shop for lending through two local commercial banks and two micro financial institutions.
KoSEP also encourages energy-saving refurbishments in multi-story buildings, a complex form of project which requires agreement among residents of the whole building for borrowing funds.
Ian Smith, EBRD Head of Sustainable Energy Financing Facilities, said: “This very successful credit line helped achieve energy savings totalling over 25,000 MWh/y, enough to supply 5,000 Kosovar households with electricity for a whole year.
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