Energy Efficiency

GGF’s new loan to boost energy efficiency in Bosnia and Herzegovina

GGF's loan to boost energy efficiency in Bosnia and Herzegovina

Picture: Pixabay


February 19, 2018





February 19, 2018




The Green for Growth Fund (GGF) has provided a EUR 1.5 million senior loan to Microcredit Foundation SUNRISE (MCF Sunrise) Sarajevo in Bosnia and Herzegovina to support energy efficiency measures and raise awareness of energy efficiency in the country.

GGF and MCF Sunrise support energy efficiency in the microfinance sector in Bosnia and Herzegovina, the GGF’s statement says. Through MCF Sunrise’s expanding network extends the GGF’s outreach to new regions for investments in the residential, agriculture and micro & small enterprises (MSE) sectors.

The loan of EUR 1.5 million will be used to finance a new energy efficiency loan product for MCF Sunrise’s clients through its 43 branches throughout the country.

Along with supporting MCF Sunrise’s growth in rural regions and ambitions to educate its clients on energy efficiency measures and benefits, internal capacity building and marketing supporting will be provided through the fund’s Technical Assistance Facility, the statement reads.

MCF Sunrise, established in 1996, within the framework of the World Bank’s Local Initiatives Project, has a strong focus on low-income entrepreneurs and micro and small businesses in urban and semi-urban areas of the country, offering the fund an opportunity to deepen its outreach in the microfinance sector.

Samir Bajrović, MCF Sunrise director said that MCF is committed to continuously support programs and activities resulting in the reduction of energy poverty, improvement of air quality and reduction of CO2 emissions, and noted that this project will help secure better living standards.

Supporting energy efficiency investments in the microfinance sector in Bosnia and Herzegovina by partnering with MCF Sunrise, the GGF will support “the acceleration of investments in energy efficiency and raise market awareness among micro-entrepreneurs and small businesses in Bosnia and Herzegovina,” Christopher Knowles, the GGF Chairman said.

Energy efficiency measures financed with the GGF loan are projected to result in annual primary energy savings of approximately 5,500 MWh and CO2 emission reductions of approximately 2,100 metric tons.

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

Slovenia adopts action plan to halve energy poverty

Slovenia adopts action plan to halve energy poverty

01 December 2023 - According to Eurostat, more than 41 million people in Europe were unable to adequately heat their homes in 2021.

vulcan lithium Landau Zero Carbon Lithium Project

Vulcan opens Europe’s first fully domestic lithium production plant in Germany

30 November 2023 - Lithium extraction from salt water has a much lower environmental impact than projects at salt deserts and mines


Croatia’s HEP starts up new unit at cogeneration plant in Zagreb

30 November 2023 - The new unit is HEP's largest investment in new generation facilities in the last ten years, and it will replace outdated units

can europe necp western balkans report missed targets

CAN Europe: BiH, Kosovo* and Serbia’s NECPs lack climate ambition, coal phaseout dates

28 November 2023 - Bosnia and Herzegovina, Kosovo*, and Serbia sent draft NECPs to the Energy Community Secretariat for review in late June and July