Erste Bank has become the first Serbian bank to receive financing from the European Bank for Reconstruction and Development (EBRD) for home energy efficiency through a RSD 600 million (equivalent to EUR 5 million) loan for on-lending to residential clients.
Erste Bank’s home energy efficiency loans are aimed at citizens planning to invest in energy efficient solutions for their homes, such as replacing windows or doors, façade retrofitting, procuring heating equipment or thermal insulation material, photovoltaic panels, heat pumps, energy-saving lighting and other measures resulting in increased efficiency and savings.
The loan comes under the EBRD EUR 85 million Green Economy Financing Facility for the Western Balkans, implemented in partnership with the Energy Community Secretariat. The initiative is designed to help local households, housing associations and service providers invest in energy efficiency measures and renewable energy projects.
Incentives and technical cooperation in support of green technology investments will be provided by the European Union, the Austrian Federal Ministry of Finance and the European Western Balkans Joint Fund under the Western Balkans Investment Framework.