BELGRADE (Serbia), October 30 (SeeNews) – The Serbian unit of Italy’s Banca Intesa said it is lending 2.23 million euro ($3.3 million) to local lime and stone aggregates producer Jelen Do to improve energy efficiency.
The lending resource is made available as part of the Western Balkans Sustainable Energy Credit Line Facility (WeBSECLF), Banca Intesa said in statement posted on its website late on Thursday.
WeBSECLF is an investment facility established by the European Bank for Reconstruction and Development (EBRD) to provide debt financing for energy efficiency projects and small renewable energy projects implemented by private entities (in industry or in buildings used for commercial services) in the Western Balkans.
The facility is endowed with up to 60 million euro for lending programmes in Bosnia and Herzegovina, Macedonia, Montenegro, and Serbia.
“The funds have been made available from the first EBRD credit line in Serbia totalling 10 million euro,” the statement said.
The bank said it has also lent 200,000 euro to Serbian furniture producer Forma Ideale from the same credit line.
Jelen Do, part of Croatian construction materials group Nexe, plans to invest a total of 5.0 million euro in the EBRD-supported energy efficiency project.
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