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2024-11-22 00:00:00
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The European Bank for Reconstruction and Development (EBRD) is bolstering economic growth and sustainability in Kosovo through a €13 million partnership with ProCredit Bank. This initiative supports small and medium-sized enterprises (SMEs) and green energy solutions, further advancing Kosovo’s transition to a sustainable economy.
Key Investments
The funding includes two targeted loan programs:
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SME Reboot Programme:
The EBRD has provided €8 million to boost the competitiveness of Kosovan SMEs. This program focuses on investments in high-performing green technologies, enabling SMEs to meet European Union (EU) and international standards.
- Benefits: SMEs will receive cash-back grants of up to 15% of their loan amounts, making green investments more accessible.
- Support: The program is backed by Denmark, Luxembourg, Switzerland, Norway, and the United States through the EBRD’s Small Business Impact Fund (SBIF). Technical cooperation is also provided by Denmark and Switzerland.
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Green Economy Financing Facility (GEFF):
€5 million has been allocated to promote energy-efficient and renewable energy investments for homeowners, housing collectives, and the public sector.
- Benefits: Homeowners can receive up to 20% cash-back incentives upon the successful installation of green technologies such as insulation, heat pumps, and solar panels.
- Support: The initiative is funded by the EU through the Western Balkans Investment Framework, with additional backing from Japan and Denmark.
Strategic Partnership with ProCredit Bank
ProCredit Bank Kosovo, the country’s largest SME bank, has a strong track record of implementing SME-focused credit lines with the EBRD. This partnership underscores the bank’s commitment to fostering economic progress and sustainability.
Leadership Perspectives
Sergiy Maslichenko, EBRD Head of Kosovo, stated:
“We are excited to deepen our collaboration with ProCredit Bank Kosovo to advance the country’s green transition and economic growth. These initiatives not only support SMEs but also enable residential energy efficiency, reducing emissions and lowering energy costs.”
Visar Paçarada, CEO of ProCredit Bank Kosovo, emphasized:
“Our partnership with the EBRD showcases the transformative power of collaboration. By empowering SMEs and encouraging sustainable investments in the residential sector, we are driving responsible growth and fostering environmental resilience.”
EBRD’s Impact in Kosovo
As a leading institutional investor in Kosovo, the EBRD has invested over €680 million across 112 projects, playing a pivotal role in the nation’s economic and environmental development.
This partnership between the EBRD and ProCredit Bank marks a significant step in Kosovo’s journey toward sustainable economic growth, supporting both businesses and residents in embracing greener practices.
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