EBRD and ProCredit promote energy efficiency in Albania


EU and Austria supported credit line for energy efficiency in private households

  • €3 million credit line for residential energy efficiency investments
  • Borrowers receive up to 20 per cent cashback on successful investments
  • Credit line co-financed by the EU, Austria and the Western Balkans Investment Framework

The European Bank for Reconstruction and Development is stepping up efforts to improve energy efficiency in Albania with a €3 million credit line to ProCredit Bank. The funds will be on-lent to households for investments in energy saving solutions.

Bank clients will be able to apply for financing to invest in energy home improvements, such as wall or roof insulation, new windows, solar panels, heat pumps or cleaner and more efficient boilers – with the aim of achieving energy savings.

Upon successful completion of the investments, households receive an incentive grant worth up to 20 percent of the loan amount, funded by the European Union (EU), which makes these investments more affordable. Additionally, households will benefit from reduced energy bills and more comfort in their homes.

The credit line is part of the Western Balkans Green Economy Financing Facility (GEFF), which promotes energy efficiency improvements in the residential sector, and is co-financed by the European Union (EU) and Austria and bilateral donors to the Western Balkans Investment Framework (WBIF).

Ekaterina Solovova, EBRD Head of Albania, said: “Reducing energy consumption and costs by making residential buildings more energy efficient is now even more urgent than ever. Energy saving measures help reduce CO2 emissions, and for the homeowners they bring more comfort and lower electricity and heating bills”.  

“Promoting environmental awareness and protection, and helping to mitigate climate

change, has always been on our strategic focus. Green Economy Financing Facility (GEFF) reinforces our ecological approach for sustainable future. We are committed to support our clients who are willing to realise investments in green technologies and encourage them to benefit from the favourable conditions offered by this facility”- explains the Management of ProCredit Bank Albania.

To date GEFF has supported over 9000 households in the region, to improve energy efficiency over the past four years of their homes.  

The EBRD is a leading institutional investor in Albania, focusing on the sustainable development of the private sector, building on the strong entrepreneurial spirit in the economy, enhancing the commercialisation of infrastructure projects, and promoting sustainable energy and environmentally sound investments. To date, the Bank has invested €1.8 billion in 125 projects across the country.