ProCredit Bank in Kosovo has launched a certified green building finance program for the construction and purchase of sustainable energy-efficient buildings, offering attractive interest rates for investment and discounted fees for green building certification. The pioneering facility is expected to boost the market for green buildings in Kosovo, according to a press release from the bank.
ProCredit Bank SH.A’s Green Building Finance Initiative for Developers and Homeowners is supported by environmental and sustainability certifier Sintali-SGS, which offers clients a fast and easy path to obtaining the EDGE (Excellence in Design for Greater Efficiencies) certification, developed by IFC, a member of the World Bank Group.
Eligible clients will be able to quantify the impact that their decisions have towards creating a more efficient building, with the ultimate goal of transitioning all buildings to zero carbon. Supported by free technical support from Sintali-SGS, the facility offers green finance expertise, an attractive loan interest rate for the investment, as well as discounted fees for green building certification.
Operating as a one-stop-shop for EDGE certification and audit services, Sintali-SGS enables clients to quantify the impact their decisions have towards creating a more efficient building, with the ultimate goal of transitioning all buildings to zero carbon, according to the press release.
EDGE certificate requires a 20% cut in energy and water consumption
A project qualifies for EDGE certification when it achieves reductions of 20% in energy, water, and embodied energy in materials, which also significantly increases the value of the property. Compliance with EDGE criteria allows ProCredit clients to certify their building to World Bank standards, according to the press release.
“Our new Service Agreement with Sintali-SGS aims to support and usher the construction sector and other businesses transition towards greener buildings. We hope that by providing this new service and by offering additional incentives, we can encourage the Kosovo construction market to contribute to a more sustainable future,” says Visar Paçarada, a member of the Management Board of ProCredit Bank SH.A Kosovo.
Sustainable construction practices are becoming essential as sector accounts for 40% of energy-related CO2 emissions worldwide
As the building and construction sector accounts for nearly 40% of energy-related CO2 emissions worldwide, with increasingly negative impacts on the environment and health, sustainable and environmentally friendly construction practices are becoming absolutely essential, ProCredit noted.
A virtual launch event to introduce the green building financing facility and provide more details will be held on December 09, starting at 2 pm. The online workshop will explain investment criteria, certification steps, and technical assistance options, and demonstrate how to use the EDGE App to find the most cost-effective solutions for projects.