Ministry of Economy said it is implementing a project aimed at establishing a financial mechanism for providing interest free loans for households for purchase and installation of modern biomass heating systems.
Citizens have an additional opportunity to apply for interest free loans in following banks: Atlas, Hipotekarna, Hypo Alpe-Adria, NLB Montenegrobanka and Prva banka, according to a statement on the ministry’s Directorate for Energy Efficiency. Individual loans range up to EUR 3,500 euros for households, with a maximum repayment period of five years and zero interest rate. Under the Energy Wood 2 programme, 284 heating systems were installed. Around 300 interest-free loans are expected to be used for the purchase and installation of additional number of modern biomass heating systems.
The ministry said in October it received a grant from the Government of Norway in the amount of EUR 240.000 with the aim of implementing project Energy Wood 2, which will provide interest-free loans for purchase and installation of modern biomass heating systems for pellet and briquettes.