Energy Efficiency

GGF approves EUR 10 million for BKT Kosovo’s* green lending portfolio

GGF EUR 10 million BKT Kosovo's green lending

Photo: Clairewych from Pixabay

Published

February 14, 2020

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Published:

February 14, 2020

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Clients are getting access to home renovation loans and firms will be able to upgrade production processes and energy or service supply systems. GGF provides packages for green lending to its local partners.

More opportunities for efficiency in energy and resource use in Kosovo* are about to be opened, according to the Green for Growth Fund – GGF. It said a EUR 10 million credit package was secured for Banka Kombëtare Tregtare Kosovë ShA, doing business as BKT Kosovo. It is the first dedicated funding for the entity to use in the said green lending sphere, the statement adds.

Clients are getting access to home renovation loans and firms will be able to upgrade production processes and energy or service supply systems, the green financing facility revealed.

The chief executive of BKT Albania’s subsidiary, which has been fully operational locally for almost two years, said it couldn’t ignore climate change and environmental concerns. “In this regard, BKT intends to contribute its part to a better future for the country and the globe. We believe that this loan will help to increase public awareness and result in energy efficiency and, ultimately, a greener Kosovo*,” Suat Bakkal was quoted.

BKT Albania’s subsidiary said it couldn’t ignore climate change and environmental concerns

The lender claims an 11.8% market share and the fifth place, as of December, against 6.9% from 2013, when it still had the status of a branch. The bank has grown by 55% in asset size since June 2018.

GGF noted it just established its fifth partnership in the country with the senior loan and added that BKT is “likeminded” and dedicated to making a difference with energy and resource efficiency. Chairman Olaf Zymelka wrote: “We are optimistic to see the fruits of this investment translate to more businesses and homes in Kosovo* becoming greener, thereby protecting the environment for the future.”

* This designation is without prejudice to positions on status and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.
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