The Green Economy Financing Facility (GEFF)
The Facility
The EBRD Green Economy Financing Facility (GEFF) in Western Balkans provides finance for green economy investments in the residential sector as well as to businesses who provide energy efficiency and renewable energy products and services to households. The total volume of the credit line in the Western Balkans, namely in Albania, Bosnia and Herzegovina, Montenegro, Serbia, North Macedonia and in Kosovo, is €85 Million.
GEFF in the Western Balkans is implemented under the Regional Energy Efficiency Programme for the Western Balkans (REEP Plus), supported with grant resources by the European Union, Western Balkan Investment Framework and the Austrian Federal Ministry of Finance. The partnership with donors is central to promoting the high-performing green technologies and practices. Donors provide critical support to the GEFF projects which mitigate or build resilience to the effects of climate change and other environmental threats.
Partners
GEFF financing takes place through local Participating Financing Institutions (PFIs) who use the Facility to finance eligible borrowers for investments into eligible projects.
The financial incentive for investments ranges from 15% to 35% of the loan amount, as follows:
- 15% in case of investing in one category in an individual residential building
- 20% in case of investment in two or more different categories in an individual residential building
- 25% in case of investing in one measure in the entire residential unit – building (all residential buildings in the same unit)
- 35% in case of investment in two or more different measures according to the entire residential unit – building (all residential buildings in the same unit)
More information about the GEFF Program and application conditions are available at: https://ebrdgeff.com/serbia/the-programme/the-facility/