Energy Efficiency

EBRD approves loan to NLB Bank for green investments in Montenegro

EBRD and NLB Banka signed a contract for financing green investments in Montenegro

Photo: EBRD

Published

November 15, 2023

Country

Comments

comments icon

0

Share

Published:

November 15, 2023

Country:

Comments:

comments icon

0

Share

The European Bank for Reconstruction and Development (EBRD), with the support of the European Union and Austria, has entered into a loan agreement with NLB Banka in Montenegro. It is providing EUR 2 million to on-lend to homeowners for investments in energy efficiency measures, aimed at reducing energy costs and CO2 emissions.

The funds are provided through the Green Economy Financing Facility (GEFF), which supports investments in high-performance green technologies, materials, and solutions for privately owned residential buildings.

Homeowners will get help in identifying and purchasing energy-saving equipment, such as insulation, windows, heat pumps and solar panels, according to the announcement.

Residential buildings are a significant source of CO2 emissions

Green technologies will reduce greenhouse gas emissions, lower energy costs, and improve the quality of life for apartment owners, EBRD said. The beneficiaries can also receive additional technical assistance and subsidies of 20% of the loan value after installation, the bank added.

The EU and bilateral donors have provided funds through the Western Balkans Investment Framework (WBIF) as part of the Regional Energy Efficiency Programme (REEP).

The Austrian Federal Ministry of Finance has provided additional funds for technical assistance.

“Residential buildings account for a significant amount of CO2 emissions – that is why our funds will make a meaningful positive difference to Montenegrin citizens, their energy costs, and the country’s environment”, the EBRD’s Head of Montenegro Remon Zakaria said.

President of Podgorica-based NLB Bank Martin Leberle emphasized that working with institutional partners will provide clients with new financing opportunities to improve energy efficiency.

“We will ensure that residential homeowners have the necessary finance to make important investments, with a positive impact on our environment. It will provide them with more comfortable homes, while we also build together a greener country”, he said.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

croatia subsidies energy poverty fzoeu

Croatia sets EUR 25 million in incentives for energy poor households

22 April 2025 - Croatia has earmarked EUR 25 million for households at risk of energy poverty. They will use the funds for energy renovation

Turkey major lithium producer geothermal wells

Turkey aims to become major lithium producer with its geothermal wells

21 April 2025 - Existing geothermal wells alone can enable Turkey to become one of the world's major producers of lithium, JESDER's chief Ufuk Şentürk said

Minister Admir Sahmanović formally assumes energy, mining portfolio in Montenegro

Minister Admir Šahmanović formally assumes energy, mining portfolio in Montenegro

17 April 2025 - Minister of Energy and Mining of Montenegro Admir Šahmanović was formally voted in as the two ministries that he ran were merged

croatia businesses grants government FZOEU renewables

Croatia grants EUR 30 million to firms for renewables, energy efficiency

16 April 2025 - The government approved EUR 30 million in grants to businesses for investments in renewable energy production and energy efficiency measures