Erste Bank Serbia has become the first Serbian bank to receive EBRD financing for home energy efficiency through a RSD 600 million (equivalent to EUR 5 million) loan for on-lending to residential clients, the EBRD announced from its seat in London on Friday, June 29, 2018.
The loan comes under the EBRD EUR 85 million Green Energy Financing Facility for the Western Balkans, implemented in partnership with the Energy Community Secretariat, the EBRD says in its press release.
The initiative is designed to help local households, housing associations and service providers invest in energy efficiency measures and renewable energy projects.
Erste Bank’s energy efficiency loans are aimed at citizens planning to invest in energy efficient solutions for their homes, such as replacing windows or doors, façade retrofitting, procuring heating equipment or thermal insulation material, photovoltaic panels, heat pumps, energy-saving lighting and other measures resulting in increased efficiency and savings.
– Loan clients will also be provided with a financial incentive, a grant paid by the EBRD in the amount of 15 to 20% of the total amount of the investment – Slavko Caric, Chairman of the Board at Erste Bank Serbia, pointed out and added that “citizens will be able to achieve economy in terms of energy, to improve the quality of their residential space and to make considerable savings in their personal budget through lower energy bills”.
The maximum loan repayment period is 120 months, whereas the maximum loan amount is RSD 3,000,000.
Incentives and technical cooperation in support of green technology investments will be provided by the European Union, the Austrian Federal Ministry of Finance and the European Western Balkans Joint Fund under the Western Balkans Investment Framework.
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