On April 24, the European Bank for Reconstruction and Development (EBRD) launched a Green Economy Financing Facility (GEFF) in former Yugoslav Republic of Macedonia that will provide loans to households for energy efficiency improvements in the residential sector. The facility was established with the support of the Energy Community Secretariat.
Taking part in the launch event in Skopje, Violeta Kogalniceanu, Head of Energy Efficiency Unit at the Secretariat, underlined: “Energy efficiency is about economic development and Macedonia should support local enterprises to produce efficient equipment and building insulation materials.”
Partnering up with local banks, the investments will help households to become more energy efficient, decrease their greenhouse gas emissions and improve their living standards. The GEFF programme for former Yugoslav Republic of Macedonia is part of the EUR 85 million framework for the Western Balkans.
Macedonian residents will be able to take out loans from these partner financial institutions for green technology solutions, such as new double-glazed windows, high-efficiency boilers or thermal insulation for their homes.
Vendors and producers of energy efficient solutions for the residential sector can also access financing under the GEFF programme. In addition, the programme will provide technical assistance, including energy audits for the renovation of apartment buildings.
GEFF in former Yugoslav Republic of Macedonia is implemented under the Regional Energy Efficiency Programme for the Western Balkans (REEP Plus), funded by the EU and implemented in partnership with the Energy Community Secretariat. The programme also supports the development of the country’s Energy Efficiency Law in compliance with the Energy Community acquis on energy efficiency and performance in buildings.
In 2017, the EBRD granted a EUR 100 million Green Economy Financing Facility to support Romanian households to save energy and money. The framework is designed to help households invest in energy efficiency, renewable energy and water-saving solutions.
GEFF is part of the EBRD’s Green Economy Transition approach, under which the Bank aims to dedicate 40 per cent of its annual investments to climate finance by 2020, compared with an average of around 25 per cent in the previous five years.