Case Studies > Boosting energy efficiency in Serbia
Boosting energy efficiency in Serbia
The EBRD is supporting energy efficiency and the use of renewable energy in Serbia with a loan of up to €10 million to Komercijalna Banka for on-lending to private and municipal borrowers. The aim of the loan is to support energy efficiency projects in commercial building and industrial sectors, as well as small renewable energy and energy conservation projects in companies and municipal buildings.
Improving energy efficiency and increasing the use of renewable energy are effective responses to the rising energy prices in Serbia. With this financing, our goal is to increase awareness on the benefits of energy conservation and help to overcome existing market barriers to sustainable energy investments through the provision of longer-term funding.
The funding is extended under the Western Balkans Sustainable Energy Financing Facility II (WeBSEFF II), a €75 million framework designed to provide credit lines to local banks for on-lending to private and municipal borrowers for energy efficiency and renewable energy investments. Additional financing is being provided by the European Union and the EBRD Shareholder Special Fund.