Loan to Halkbank Skopje to increase energy efficiency (EE), North Macedonia
Energy efficiency
Climate
Environment
Beneficiary Country:
-
North Macedonia
Type and/or measure of energy efficiency in buildings:
Short description of the overall project
The Green for Growth Fund (GGF) has lent EUR 10 million to Halkbank Skopje to increase energy efficiency (EE) in Macedonia. The loan is the fund’s third to Halkbank Skopje since 2010, when the lender became the first in the country to offer EE financing products. The latest investment further solidifies this successful, long-standing cooperation and reflects Halkbank’s proven track record of promoting the reduction of energy use in Macedonia.
The GGF loan will enable Halkbank to increase the scope and volume of its Eco-loan products, which can be used for financing EE measures at Macedonian businesses, for replacing obsolete agricultural equipment on farms, and for outfitting homes with technologies that lower energy use. In addition, the latest loan includes GGF technical assistance that will support both Halkbank’s sales and promotional activities and the development of further EE loan products.
Energy savings achieved / expected |
|
|---|---|
| Final energy savings (kWh): | 50,000,000 |
| CO2 emission reduction achieved /expected in kt Co2eq | 15 |
| Financial instruments used / use of current financial mechanisms | Loan to increase Eco-loan products and technical assistance to support sales and promotional activities and the development of further EE loan products. |