Senior loan to Agjencioni për Financim në Kosovë (AFK), Kosovo
Energy efficiency
Climate
Beneficiary Country:
-
Kosovo*
Type and/or measure of energy efficiency in buildings:
Short description of the overall project
The Green for Growth Fund (GGF) announced a EUR 1 million senior loan to Agjencioni për Financim në Kosovë (AFK) in a deal that further expands and diversifies the fund’s geographic and operational scope with financing for Kosovo’s developing energy efficiency (EE) market.
AFK caters to micro- and small businesses and rural communities and has recognized the importance of EE financing and the growth potential in this sector. The investment is designed to support AFK’s desire to increase its dedicated EE financing operations, and the GGF’s first loan in Kosovo underscores the fund’s ability to finance energy reduction measures in new markets. AFK is expected to on-lend the GGF investment to clients for measures that lower power use and emissions at residences and businesses. Along with the loan, the GGF is providing AFK with technical assistance to expand the institution’s expertise in EE lending.
Energy savings achieved / expected |
|
|---|---|
| Final energy savings (kWh): | 500,000 |
| CO2 emission reduction achieved /expected in kt Co2eq | 0.2 |
| Financial instruments used / use of current financial mechanisms | on-lend the GGF investment to clients for measures that lower power use and emissions at residences and businesses |