GGF helps energy efficiency in Serbian homes via Halkbank

Primary energy savings of 43 GWh and reductions of carbon dioxide emissions of more than 13,000 metric tonnes on an annual scale were highlighted by the Green for Growth Fund as it announced a long-term EUR 5 million loan for the housing sector in Serbia.

The deal signed with Türkiye Halk Bankası AŞ’s subsidiary in Serbia aims to boost energy efficient housing in the country, the press release said.

Some of the funds will be used for mortgages for homes with low energy use, GGF added. The package includes technical assistance for Halkbank a.d. in savings monitoring and work on public awareness in the segment, the statement adds.

The contract opens cooperation of GGF with the new entity, which was called Čačanska banka before the 2015 takeover. It became the fund’s partner in 2011 in energy efficiency financing as one of the first in Serbia, the update notes and underscores Halkbank has 35 units in the market.

“We are excited to continue our work with Halkbank, and we especially welcome the opportunity to support prospective homeowners in Serbia seeking to purchase energy-efficient housing, which will contribute to energy savings and ultimately benefit climate change mitigation,” said GGF’s chairman Christopher Knowles.

“With this renewed cooperation with the GGF credit facility, we want to support private individuals and SMEs (small and medium-sized enterprises) seeking to invest in energy efficiency projects and consequently improve their lives and business environment,“ stated Kenan Bozkurt, chief executive of Halkbank, headquartered in capital Belgrade. He underscored loans will also be used for buying flats in buildings certified for energy efficiency. „The realization of this cooperation is in line with the bank’s aim of promoting sustainable growth and investments in projects that have positive effects on the environment. Our bank was a pioneer in financing energy efficiency projects in Serbia, and it is of great importance for us to remain dedicated to this kind of support for our clients.”