Short description of the overall project

The private residential and building sector in Albania will benefit from wider access to finance thanks to a €6 million loan that the European Bank for Reconstruction and Development (EBRD) is providing to Albania’s Union Bank.

The new financing for Albania is provided under the EBRD’s €85 million Western Balkans Green Economy Financing Facility (GEFF). The programme is a joint initiative of the European Union (EU), bilateral donors and beneficiary countries cooperating under the Western Balkans Investment Framework (WBIF) and is implemented in partnership with the Secretariat of the Energy Community. The Austrian Federal Ministry of Finance will provide incentives and technical cooperation in support of green technology investments.

Union Bank, an EBRD client since 2008, will on-lend the funds to its own clients in support of investments in high-performance energy efficiency projects in privately owned residential dwellings or buildings. Clients will be able to invest in insulation, solar panels, efficient boilers and other green technologies.