New Financing Facility for Kosovo* under the Regional Energy Efficiency Programme for the Western Balkans (REEP)
The European Bank for Reconstruction and Development (EBRD) has formally launched a Green Economy Financing Facility (GEFF) for Kosovo which will provide loans to households for energy efficiency improvements.
Through the GEFF programme, families in Kosovo will be able to take out loans from local partner financial institutions for green technology solutions, such as new double-glazed windows, high-efficiency boilers, or insulation for their homes. These investments will help households to not only become more energy efficient but also decrease their greenhouse gas emissions and improve their living standards. Families 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 Facility.
The GEFF in Kosovo is implemented under the Regional Energy Efficiency Programme for the Western Balkans (REEP), funded by the EU and implemented in partnership with the Energy Community Secretariat. In total, the REEP programme will benefit from €135 million for investments in the residential sector, supported by €30 million in EU funding, €1.8 million from the European Western Balkans Joint Fund, as well as €3.3 million provided by the Austrian Federal Ministry of Finance.
Credit lines of €8.5 million have already been signed by three local partner financial institutions, TEB Banka në Kosovë and microfinancial institutions including Kreditimi Rural i Kosoves (KrK) and Agjencioni për Financim në Kosovë (AFK), as part of a larger €85 million GEFF programme operating in the Western Balkans.
More details on the Green Economy Financing Facility (GEFF) for Kosovo can be found here.
Further information on energy efficiency investments under the WBIF may be found here.
*This designation is without prejudice to positions on status, and is in line with UNSCR 1244/1999 and the ICJ Opinion on the Kosovo declaration of independence.