News

IFC helps NLB Prishtina boost energy efficiency lending

Published

April 1, 2016

Comments

0

Share

Published:

April 1, 2016

Comments:

0

Share

An advisory project started in June 2015 by a member of the World Bank Group to help a NLB Prishtina bank in Kosovo* better identify, evaluate and finance energy efficiency projects, resulted in new lending products  for energy efficiency for private households and for small and medium-sized companies. The International Finance Corporation said it helped the bank boost such projects, also with a training programme, to help cut costs and mitigate climate change.

The local bank piloted the lending product for households from December to February and is now officially launching both products. “By using IFC’s experience and expertise in sustainable finance, we are hoping to unlock the potential of investments to make smaller businesses and private homes more energy efficient,” said Albert Lumezi, chairman of the Management Board of NLB Prishtina, and cited cleaner, more sustainable environment as motivation.

The advisory project is a part of IFC’s Sustainable Energy Finance Program in Europe and Central Asia, implemented in partnership with Austria’s Federal Ministry of Finance. NLB Prishtina is the second bank from Kosovo* to join the programme. “Energy remains one of the most important issues facing Kosovo* today. Investments in energy efficiency are not only good for the environment, they’re good for business, because they help reduce energy consumption and save costs,” said Thomas Lubeck, IFC’s regional manager for the Western Balkans. Work with NLB supports the government’s first National Energy Efficiency Action Plan, which aims to achieve energy savings of 9% by 2018, he added.

Kosovo* became a member and shareholder of IFC in 2009. Since then, IFC has invested and mobilized USD 391 million (EUR 348 million) in five projects across a variety of sectors, the statement said. In addition, it has supported trade flows of EUR 4.28 million through the trade finance program. IFC’s advisory services in Kosovo* aim to improve the investment climate and performance of private sector companies, and attract private sector participation in the development of infrastructure projects, according to the press release.

 

* 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.

Related Articles

Rezolv secures EUR 191 million loan for Vifor wind farm in Romania

Rezolv secures EUR 291 million loan for Vifor wind farm in Romania

14 June 2024 - The beneficiary of the loans is First Looks Solutions S.R.L., project subsidiary of Rezolv Energy and Low Carbon

eps transformation plan djerdap 1

Serbia’s power utility EPS adopts Transformation Plan

14 June 2024 - By adopting the Transformation Plan, Serbia has met an important structural benchmark within the framework of the arrangement with the IMF

bulgaria NEK pumped storage hydropower batak dospat

Bulgaria’s NEK gets help to prepare construction of two large pumped storage hydropower plants

14 June 2024 - The pair of new renewable energy sources, named Batak and Dospat, will each add generation capacity of approximately 800 MW

rio-tinto-jadar-lithium-studies

Rio Tinto releases draft environmental impact assessments for Jadar Project

13 June 2024 - Rio Tinto has said it has voluntarily released preliminary drafts of environmental impact assessment studies for its lithium mining project Jadar