Energy efficiency through its multiple benefits should not only be treated as “the first fuel”, but also as a source of economic regeneration post the coronavirus.
Source IEA
For this to happen, there is a need for enhanced investment in building renovations, increased use of sustainable heating and cooling, support for economies to produce nationally and install energy efficient technologies in residential, public and commercial buildings.
The WBIF publication Investing in Clean Energy in the Western Balkans identified that energy efficiency investment needs in the region's buildings sector alone are probably in excess of €3 billion.
An intensive communication and large public awareness raising of the available financing mechanisms, technologies, their benefits, and the financial support opportunities is critical. Having this in view, the Energy Community Secretariat has taken upon itself the “mission” of sharing information and raising awareness of already existing financing opportunities, based on publicly available information. The focus is on regional programmes on energy efficiency and small renewable financing opportunities.
Most facilities rely on local financial intermediaries to identify and implement projects using funds provided by the facilities. Approximately 45 commercial banks or financial institutions offer energy efficiency or renewable energy financial products in the region. Many of their financial products are based on the offer of dedicated credit lines made available by the international financial institutions and development banks, supported by EU grant funding for both technical assistance and financial incentives. Some of the most illustrative examples are listed below.
Sources of retail finance
in the Western Balkans
in the Western Balkans
The WBIF publication, Investing in Clean Energy in the Western Balkans (October 2019), contains a list of potential sources of retail finance. It was compiled on a best efforts basis from publicly available information. All information is indicative only.
Albania
Institution | Target market | Partner donating financial institution |
---|---|---|
BKT | SMEs & RE projects, residential |
Green for Growth Fund |
Fondi Besa | residential | EBRD / Green for Growth Fund |
Procredit Bank | households & SMEs | |
Union Bank | residential | EBRD / Green for Growth Fund |
Credins Bank | residential | IFC (TA) |
NOA Microfinance | residential & SME | IFC (TA) |
Bosnia and Herzegovina
Institution | Target market | Partner donating financial institution |
---|---|---|
LIDER | households |
Green for Growth Fund |
MI-BOSPO | households | Green for Growth Fund |
Mikrofin | households & small agri-businesses | Green for Growth Fund |
NLB Banka Banja Luka | SMEs | Green for Growth Fund |
Partner | households |
EBRD / KfW / Green for Growth Fund / GEFF |
Procredit Bank | SMEs |
Kosovo*
Institution | Target market | Partner donating financial institution |
---|---|---|
Microsunrise | households |
Green for Growth Fund |
UniCredit Bank Banja Luka | households & SMEs & residential | Green for Growth Fund, EBRD / GEFF |
Unicredit Bank Mostar | residential | EBRD / GEFF |
AFK | households & residential | Green for Growth Fund, EBRD / GEFF |
BPB | households & SMEs |
Green for Growth Fund, EBRD / SME CSP |
KEP Trust | households | Green for Growth Fund |
Kreditimi Rural I Kosoves (KRK) | households & residential | Green for Growth Fund, EBRD/ GEFF |
ProCredit Kosovo | SMEs | EBRD / SME CSP |
TEB | residential | EBRD/ GEFF |
Montenegro
Institution | Target market | Partner donating financial institution |
---|---|---|
Alter Modus | households |
Green for Growth Fund |
Atlasbanka | Local authorities | |
Crnogorska komercijalna banka | SMEs | |
Hipotekarna banka | SMEs | |
Investiciono Razvojni Fond CG | Local authorities & SMEs |
|
Komercijalna Banka Budva | SMEs |
North Macedonia
Institution | Target market | Partner donating financial institution |
---|---|---|
Halkbank MK | households & SMEs |
Green for Growth Fund |
Ohridska Banka | residential & RE projects | EBRD / GEFF, Green for Growth Fund |
Procredit Bank Macedonia | residential & SMEs | EBRD / GEFF |
Sparkasse Macedonia | residential | EBRD / GEFF |
Serbia
Institution | Target market | Partner donating financial institution |
---|---|---|
Addiko | SMEs |
|
Banca Intesa | households & SMEs | Green for Growth Fund, EBRD / WEBSEFF 2 and SME CSP |
Erste | residential | EBRD / GEFF |
Erste Bank Novi Sad | SMEs | KfW |
SMEs & residential |
Green for Growth Fund |
|
Intesa Leasing Beograd | SMEs | Green for Growth Fund |
Komercijalna banka | SMEs | Green for Growth Fund |
NLB Bank | residential | |
ProCredit Bank RS | households & SMEs | Green for Growth Fund |
Raiffeisen Leasing | SMEs | KfW |
Sberbank | renewable projects | |
UniCredit | SMEs & residential & renewable projects | Green for Growth Fund, KfW, EBRD / SME CSP, GEFF and PSSF |