EBRD oks 75 mln euro financing for energy projects in Western Balkans

The European Bank for Reconstruction and Development (EBRD) said on Tuesday it is launching a 75 million euro ($100 million) financing facility to improve energy supply in the Western Balkans through investments in energy efficiency and renewable energy projects.

The Western Balkans Sustainable Energy Financing Facility II (WeBSEFF II) covers Albania, Bosnia and Herzegovina, Croatia, Macedonia, Kosovo, Montenegro and Serbia, while eligible borrowers include private sector companies, energy service companies, municipalities and public building owners, the EBRD said in a statement.

WeBSEFF II is supported by 11.5 million euro in grant funds provided by the European Union for technical cooperation programmes and investment incentives for borrowers, who will benefit from consultation and advice such as free energy audits.

A first loan under the framework is being provided to Raiffeisen Bank Bosnia and Herzegovina in the amount of up to 5.0 million euro, to enable the borrower to deepen its sustainable energy financing activities in the country.

The facility builds on the success of the 60 million euro WeBSEFF I, under which 123 energy efficiency and renewable energy projects totalling 55 million euro in loans have been financed.

($=0.7497 euro)

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