EBRD and ProCredit promote energy efficiency in Albania

Banking

The European Bank for Reconstruction and Development is stepping up efforts to improve energy efficiency in Albania with a EUR 3 million (USD 3.16 million) credit line to ProCredit Bank, it said in a statement.

The funds will be on-lent to households for investments in energy-saving solutions.

Bank clients will be able to apply for financing to invest in energy home improvements, such as wall or roof insulation, new windows, solar panels, heat pumps or cleaner and more efficient boilers – with the aim of achieving energy savings.

On successful completion of the investments, households will receive an incentive grant worth up to 20% of the loan amount, funded by the European Union, which makes these investments more affordable. In addition, households will benefit from reduced energy bills and more comfort in their homes.

The credit line is part of the Western Balkans Green Economy Financing Facility (GEFF), which promotes energy efficiency improvements in the residential sector, and is co-financed by the European Union, Austria and bilateral donors of the Western Balkans Investment Framework (WBIF). 

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