New energy efficiency framework for households in Western Balkans

Households in Kosovo* are now able to apply for loans at local partner financial institutions for green technology solutions through the Green Economy Financing Facility (GEFF) for Kosovo*.

GEFF has been launched by the European Bank for Reconstruction and Development (EBRD) and will provide loans to households for energy efficiency improvements, under the Regional Energy Efficiency Programme for the Western Balkans (REEP). The initiative is funded by the EU and implemented by the EBRD in partnership with the Energy Community Secretariat.

Credit lines of EUR 8.5 million have already been signed by three local partner financial institutions, TEB Banka në Kosovë and micro financial institutions including Kreditimi Rural i Kosoves (KrK) and Agjencioni për Financim në Kosovë (AFK), as part of a larger EUR 85 million GEFF programme operating in the Western Balkans.

Through the GEFF programme, families in Kosovo will have an opportunity to implement green technology solutions, such as new double-glazed windows, high-efficiency boilers, or insulation for their homes.

“Households investing in such energy efficient technologies will be eligible to apply for an EU grant for up to 20% of their investment. Companies producing and installing these energy efficient solutions, such as windows or boilers, can also access financing under the GEFF programme. In addition, technical assistance, including energy audits for the renovation of multi-apartment buildings, will be available under the GEFF,” a statement by the EBRD reads.

In total, the REEP programme will benefit from EUR 135 million for investments in the residential sector, supported by  EUR 30 million in EU funding, EUR 1.8 million from the European Western Balkans Joint Fund, as well as EUR 3.3 million provided by the Austrian Federal Ministry of Finance.