Serbia, EBRD to provide 5 million euros to ProCredit Bank for green investments

, News Serbia Energy

The European Bank for Reconstruction and Development (EBRD) said that it will provide a 5 million euros loan to ProCredit Bank Serbia for investments in increasing energy efficiency in residential buildings.

The statement from the Bank said that the funding, provided under the EBRD’s Green Economy Financing Facility (GEFF), will support investments in energy saving measures such as insulation, windows, heat pumps, solar panels and other solutions in privately-owned houses.

Borrowers will also be eligible for up to 20 % cashback on successful project completion, financed by the European Union.

GEFF is a 135 million euro program co-financed by the EU, the Western Balkans Investment Framework (WBIF) and the Austrian Federal Ministry of Finance.