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EBRD provides €2mn loan to North Macedonia’s Ohridska Banka for residential energy efficiency investments

The European Bank for Reconstruction and Development (EBRD) said on June 3 it is providing a €2mn loan to North Macedonia’s Ohridska Banka for on-lending to households for energy efficiency projects.

The most frequently financed technologies are windows and doors, insulation and heat pumps.

"Ohridska Banka will use the EBRD funds to offer loans to households to invest in energy efficiency measures, such as insulation, windows, heat pumps and solar panels. On successful completion of the projects, borrowers will be eligible for up to 20%," the EBRD said in the statement.

The financing is part of a €135mn Green Economy Financing Facility (GEFF) programme for the Western Balkans, which supports energy-efficient solutions to build a greener and sustainable economy. The programme is supported by the EU, the Western Balkans Investment Framework (WBIF) and the Austrian Federal Ministry of Finance.

“Supporting green investment is one of our key priorities and we are glad to step up our green activities together with donors and Ohridska Banka,” EBRD head of North Macedonia, Andi Aranitasi, said.

GEFF in North Macedonia has reached more than 2,000 households and provided loans of more than €15mn for individual projects via partner financial institutions.

Implemented projects contributed to savings exceeding 10mn kWh of energy and a reduction of more than 4,000 tonnes of CO2 emissions per year.

To date, the EBRD invested €2.14bn through 145 projects in North Macedonia.