Kosovo : BPB, has joined the energy efficiency financing programme of the EBRD

A new bank in Kosovo, BPB, has joined the energy efficiency financing programme of the European Bank for Reconstruction and Development (EBRD).

Agreement signed in Pristina by EBRD President Sir Suma Chakrabarti and Arton Celina, the Chief Executive Officer of BPB, the bank will receive a €1 million EBRD credit line for on-lending to small and medium-sized enterprises (SMEs) and individual households for energy efficiency and renewable energy investments. The credit line is extended under the EBRD’s Kosovo Sustainable Energy Projects framework (KoSEP).

EBRD President Chakrabarti said: “Green energy investments are key for the EBRD; we see combatting global climate change as one of our strategic priorities, and aspire to be a leader among multilateral institutions in engaging private banks in sustainable energy financing. I am very pleased that as of today, we have BPB as partner in this important area.”

BPB is one of two banks in Kosovo that are majority-owned by local investors. The EBRD, which has had a 10 per cent stake in the bank since 2011, has already cooperated with BPB, including in trade finance and small business lending. The EBRD also facilitated technical assistance for capacity building, particularly in the areas of corporate governance, risk management and internal controls, financed by the EBRD Western Balkans Fund, supported by international donors.

The EBRD-run Kosovo Sustainable Energy Projects framework, launched in 2013, became the first financing programme in Kosovo for SME and residential energy efficiency and small-scale renewables.

source : ebrd.com

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