EBRD, EU and Austria support residential energy efficiency in Kosovo
€5 million credit line to Raiffeisen Bank for on-lending to homeowners
€5 million credit line for residential energy efficiency investments
Borrowers receive up to 20 per cent cashback on successful investments
GEFF co-financed by the EU, Austria and the Western Balkans Investment Framework
More homeowners in Kosovo will be able to invest in domestic energy efficiency improvements thanks to a new €5 million credit line the European Bank for Reconstruction and Development (EBRD) is extending to Raiffeisen Bank Kosovo.
Raiffeisen Bank will lend the funds to privately owned households for investment in energy efficiency measures, such as insulation, windows, heat pumps and solar panels. Upon successful completion of the projects, borrowers will be eligible for up to 20 per cent cashback.
To date, more than 1,000 households in Kosovo have already made energy efficiency improvements to their homes using GEFF loans.
Neil Taylor, EBRD Head of Kosovo, said: “Kosovo simply cannot afford to miss the possibility of a green recovery from the crisis. I am proud we are now partnering with Raiffeisen to help people here improve their homes and save bills. With the support of our European donors, our goal is to spur a building renovation wave across the country and tackle the blight of poor air quality and pollution.”
Robert Wright, the CEO of Raiffeisen Bank Kosovo, added: “Raiffeisen Bank Kosovo is delighted to have a partnership with EBRD for the launch of a 5 million euros credit line for energy efficient improvements to our customers’ homes. This initiative is part of the Bank’s broader commitment to responsible banking for a sustainable future after Raiffeisen Bank International became the first Austrian bank to commit to the UN principles for responsible banking earlier this year.”
To date, more than 8,000 households in the Western Balkans have improved their energy efficiency through the GEFF programme, with investments in projects that contributed to a reduction of nearly than 12,000 tonnes of CO2 emissions per year, equivalent to removing 7,270 cars from the street.
Since the beginning of its operations in Kosovo in 2012, the EBRD has invested €531 million through 78 projects in the country.
Supported by
By using this site, you confirm that you accept our Terms and Conditions as well as our Cookies Policy AcceptRead More
Privacy & Cookies Policy
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.