EIB approves 2 mln euro to Croatia's HBOR for energy efficiency project

The European Investment Bank (EIB) said on Wednesday it is providing 2 million euro ($2.2 million) to the Croatian Bank for Reconstruction and Development (HBOR) to support energy efficiency projects of local businesses and municipalities.

The programme will stimulate the owners of E and F energy class buildings to apply for European Structural and Investment Funds (ESIF) loans in order to improve energy efficiency, whereas municipalities could apply to improve their street lighting networks, EIB said in a statement.

"The partnership will support eligible entities to invest more than EUR 57million in energy efficiency, save up to 35 GWh of energy each year and reduce CO2 emissions," the statement said.

This deal should improve some 130,000 square metres of private and public buildings space, as well as lift street safety with the improvement of some 60,000 lighting posts.

HBOR's president of the management board, Tamara Perko said she expects these funds to be available to customers in the first quarter of 2020.

EIB's lending commitments in Croatia since the start of its activity in the Adriati country have reached 6.55 billion euro.

($ = 0.912124 euro)

Choose your newsletter by Renewables Now. Join for free!