The European Bank for Reconstruction and Development (EBRD) is giving two loans in support of housing energy efficiency projects to the Unicredit Bank in Bosnia and Herzegovina. The total amount of the loans is EUR 12 million.
The money will be lent for projects in line with the EBRD Green Economy Transition (GET), the EBRD said in a statement.
Two Unicredit branches – Unicredit Bank d.d. Mostar and Uncredit Bank a.d. Banja Luka – are set to receive EUR 7 million and EUR 5 million, respectively, under the EBRD Green Economy Financing Facility for loans to individuals, housing collectives, producers, suppliers and vendors of green technologies and service providers.
The EBRD said the loans will be used for urgently needed residential sector investments to reduce energy loss and improve energy efficiency of both apartments and buildings. The projects will include installing energy efficient windows and doors, thermal insulation, energy efficient boilers and other things.
The EBRD is planning to increase its “green financing” to 40 percent of its annual investments by 2020.
EBRD Director of Financial Institutions for the Western Balkans Henry Russell said the loans will send a strong signal to the market where the demand for energy efficiency investments is huge, yet largely unfulfilled. “Improvements in this area will benefit the environment as well as residents who will enjoy better living conditions at lower cost,” he said.
Both the EBRD and UniCredit have recognize the importance of urgent investments in the energy efficiency of households since they are the largest single consumer of power in the country.
The EBRD has invested more than EUR 2 billion in almost 140 projects in Bosnia-Herzegovina to date.
Information about these loans are available in UniCredit branches and on the web sites of both branches Unicredit.ba and Unicreditbank-bL.ba.