UniCredit Bank Serbia RSD 600 million loan for boosting energy efficiency
Energy efficiency
Climate
Environment
Beneficiary Country:
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Serbia
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 Din 600 million (equivalent to €5.1 million) to UniCredit, the second-largest bank in Serbia, to enhance its financing of the green economy.
The initiative is designed to help local households, housing associations and service providers invest in energy efficiency measures and renewable energy projects.
Incentives and technical cooperation in support of green technology investments will be provided by the European Union, the Austrian Federal Ministry of Finance and the European Western Balkans Joint Fund under the Western Balkans Investment Framework.
The funds will be on-lent for investments in high-performance energy efficiency technologies, materials and solutions in residential buildings, for example to replace windows or doors, retrofit façades, procure heating equipment or thermal insulation material, photovoltaic panels, heat pumps, and other measures. The goal is to reduce energy intensity and improve energy efficiency
Energy savings achieved / expected |
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| Financial instruments used / use of current financial mechanisms | UniCredit Bank will approve consumer loans of up to Din 3 million on a repayment period of up to seven years. The incentive is up to 20 per cent of the investment. The nominal interest rate is 9.11 per cent annually while the effective interest rate is 10.82 per cent annually. |