Energy Efficiency

GGF Partners with Mikrofin to boost energy efficiency in households, small enterprises

Photo: GGF


March 15, 2019





March 15, 2019




The Green for Growth Fund (GGF) has partnered with Mikrofin to encourage energy efficiency measures among households and small agri-businesses in Bosnia and Herzegovina, the GGF said in a press release. The impact of the EUR 2 million loan will be enhanced through capacity building measures, enabling Mikrofin to develop and market a dedicated energy-efficiency lending product.

Mikrofin is the leading microfinance institution in BiH providing loans to households, small agricultural producers and micro-entrepreneurs through its widespread branch network.

As a partner, Mikrofin fits well with GGF’s mission as its portfolio of home improvement and expansion loans has significant potential for promotion of energy efficiency measures like insulation of walls and roofs, replacement of windows and lighting, and upgrade of household appliances, GGF said.

Mikrofin’s agri-business clientele offers further opportunities for promoting upgrades of small agricultural equipment which is also an effective energy efficiency measure.

“We are glad to have added this leading microfinance institution to the network of our partners in BiH. Given Mikrofin’s outreach, this partnership will not only help small agri-businesses improve their energy efficiency but also cultivate awareness about the topic at the grassroots level, contributing to a demand for more energy-efficient equipment,” said GGF Chairman Olaf Zymelka.

Lloyd Stevens, Director at GGF advisor Finance in Motion, added that it is encouraging to see Mikrofin identify green lending potential in their portfolio and show the drive to capitalize on it.

“As the residential sector is one of the biggest consumers of energy in BiH, we are confident that partnering with institutions like Mikrofin with a sizeable home improvement loan portfolio will enable GGF to have the desired impact on energy efficiency of homes in both urban and rural areas,” Stevens said.

“We believe in an open and innovative approach to business and consider the cooperation with the GGF a strong platform to improve the energy efficiency standards of homes  in BiH, which would help lower the energy bills and provide more comfortable living. We also appreciate GGF’s support in helping us raise awareness of the issues that can no longer be denied or ignored, such as the effects of climate change,” noted Mladen Bosnić, CEO and Director at Mikrofin.

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

EU energy ministers targets renewables energy efficiency

EU energy ministers aiming at more ambitious renewables, energy efficiency targets

28 June 2022 - The Council of the EU wants to boost the renewables and energy savings targets via the Fit-for-55 package, which depends on upcoming talks

Skrekas Greece triple LNG storage renewable energy capacity

Skrekas: Greece to triple LNG storage, renewable energy capacity

27 June 2022 - Minister of Environment and Energy Kostas Skrekas said the government would mobilize over EUR 44 billion for Greece's energy sector by 2030

Austria ban gas boilers new buildings next year

Austria to ban gas boilers in new buildings in 2023

15 June 2022 - Austria is phasing out fossil fuels in heating, starting with a ban on the installation of gas boilers in new buildings from next year

MRE-GIZ-prosumers-project-june 2022

Germany’s GIZ to help Serbia make renewables available to everyone

09 June 2022 - Minister Zorana Mihajlović signed an agreement with GIZ on the Promotion of Renewable Energy and Energy Efficiency in Serbia