Energy Efficiency

Sparkasse Bank Makedonija secures EUR 2 million under GEFF for green buildings

Sparkasse-Bank-Makedonija-GEFF-for-green-buildings

Photo: Signing ceremony (Sparkasse Bank Makedonija)

Published

February 25, 2020

Country

Comments

comments icon

0

Share

Published:

February 25, 2020

Country:

Comments:

comments icon

0

Share

Sparkasse Bank Makedonija has secured a EUR 2 million loan from the European Bank for Reconstruction and Development (EBRD) under the Green Economy Financing Facility (GEFF) program to support investments in high-performance green technologies in privately owned buildings in North Macedonia.

The agreement on loan was signed by Gligor Bišev, Chairman of the Management Board of Sparkasse Bank Makedonija, and Henry Russell, director at EBRD.

Sparkasse Bank Makedonija will on-lend funds to private borrowers

North Macedonia’s bank will on-lend funds to private borrowers who plan to invest in technologies, materials, and solutions to improve energy efficiency, according to the statement on GEFF’s website.

The building stock in North Macedonia is in urgent need of refurbishment and the introduction of insulation, for example, is expected to lower costs and improve comfort, it adds.

This is the third GEFF line granted to this bank in North Macedonia

This is the third line granted to the Sparkasse Bank Makedonija to satisfy the growing demand for the product, GEFF said.

EBRD is extending a EUR 3 million mortgage loan to North Macedonia’s bank for on-lending to private borrowers for housing purposes

In addition, the EBRD is extending a EUR 3 million mortgage loan to the bank for on-lending to private borrowers for housing purposes. It is the second package. The first, signed in 2017, was fully on-lent in North Macedonia, the press release reveals.

Combined with the loan for energy-saving improvements in people’s homes, mortgage financing will help to expand lending to the residential sector, GEFF said.

In October 2019 Procredit Bank Macedonia received a EUR 1 million loan from the EBRD for financing energy efficiency improvements of residential buildings.

GEFF in North Macedonia is part of the EBRD’s EUR 85 million Western Balkans Green Economy Financing Facility, launched in 2017.

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

croatia subsidies energy poverty fzoeu

Croatia sets EUR 25 million in incentives for energy poor households

22 April 2025 - Croatia has earmarked EUR 25 million for households at risk of energy poverty. They will use the funds for energy renovation

Turkey major lithium producer geothermal wells

Turkey aims to become major lithium producer with its geothermal wells

21 April 2025 - Existing geothermal wells alone can enable Turkey to become one of the world's major producers of lithium, JESDER's chief Ufuk Şentürk said

Minister Admir Sahmanović formally assumes energy, mining portfolio in Montenegro

Minister Admir Šahmanović formally assumes energy, mining portfolio in Montenegro

17 April 2025 - Minister of Energy and Mining of Montenegro Admir Šahmanović was formally voted in as the two ministries that he ran were merged

croatia businesses grants government FZOEU renewables

Croatia grants EUR 30 million to firms for renewables, energy efficiency

16 April 2025 - The government approved EUR 30 million in grants to businesses for investments in renewable energy production and energy efficiency measures