EBRD announces $97m energy efficiency initiative

The Balkans is set to benefit from an injection of funding aimed at driving energy efficiency and renewable power generation projects in the region.

The European Bank for Reconstruction and Development (EBRD) has unveiled the $97m (€75m) Western Balkans Sustainable Energy Financing Facility II (WeBSEFF II) and the initiative covers the countries of Albania, Bosnia and Herzegovina, Croatia, FYR Macedonia, Kosovo, Montenegro and Serbia.

European Bank for Reconstruction and Development

Meanwhile, the European Union has provided around $15m (€11.5m) in grant funds to support the initiative.

EBRD president Suma Chakrabarti told Energy Business Review that energy prices are witnessing hikes and added, “Improving energy efficiency and increasing the use of renewable energy is an effective response to this challenge.”

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