Loan to Procredit Bank Macedonia for energy efficiency, North Macedonia
Energy efficiency
Climate
Environment
Beneficiary Country:
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North Macedonia
Type and/or measure of energy efficiency in buildings:
Lead Donor Contact
Short description of the overall project
The EBRD is providing a loan of up to €1 million Procredit Bank Macedonia stepping up its support for the green economy in the country. The funds will benefit energy efficiency improvements of residential buildings, help reduce greenhouse gas emissions and improve homeowners’ quality of life.
Procredit Bank Macedonia will on-lend funds to local households, housing associations and service providers planning to invest in energy efficiency and renewable energy projects. The EBRD financing comes under the Green Economy Financing Facility Programme (GEFF).
Possible investments will include green technologies such as boilers, windows and lighting. The building stock in North Macedonia is in urgent need of refurbishment and the introduction of insulation, for example, is expected to lower costs and improve comfort.
Energy savings achieved / expected |
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| Financial instruments used / use of current financial mechanisms | On-lending funds to local households, housing associations and service providers. |