NLB Banka Sarajevo has secured a €2 million green loan from the European Bank for Reconstruction and Development (EBRD) to support sustainable investments in Bosnia and Herzegovina. This marks the bank’s first green financing initiative with the EBRD and is part of the third phase of the bank’s successful Western Balkans Green Economy Financing Facility (GEFF). The program encourages small and medium-sized enterprises (SMEs), public institutions, and households to invest in high-performance energy efficiency and renewable energy technologies. Through this program, beneficiaries will have access to financing for projects such as advanced insulation, energy-efficient windows, heat pumps, and solar panels, thereby promoting sustainability and reducing energy costs.
Boosting Energy Efficiency and Cost Savings with EBRD Green Loan
The EBRD’s GEFF program has been instrumental in promoting sustainable energy solutions across Bosnia and Herzegovina. By providing financial support for green technologies, the program not only enhances sustainability but also helps reduce energy costs for households and businesses. This initiative is particularly crucial in a region where energy efficiency improvements can lead to significant cost savings and environmental benefits, forming a key part of the push for Bosnia green energy.
The GEFF program is co-financed by multiple stakeholders, including the European Union (EU), the Austrian Federal Ministry of Finance, and the Western Balkans Investment Framework (WBIF). These contributions ensure that the program can offer comprehensive and gender-responsive support to beneficiaries, making sustainable energy projects more accessible and affordable for everyone.
NLB Banka Sarajevo’s Role in the EBRD Green Loan Partnership
NLB Banka Sarajevo, a member of the NLB Group, is a key player in this initiative. With a network of 34 business units serving clients across the Federation of Bosnia and Herzegovina and the Brčko District, the bank is well-positioned to drive this change. With this loan, the bank aims to expand its green financing portfolio and encourage more clients to adopt sustainable energy practices. As the program’s partner, NLB Banka Sarajevo will facilitate the distribution of funds to eligible SMEs, homeowners, housing collectives, and public institutions, ensuring that the benefits of the GEFF program reach a wide audience.
Lidija Žigić, CEO of NLB Banka Sarajevo, highlighted that this collaboration is a key step in advancing the bank’s sustainability agenda and empowering communities through green investments. By supporting energy efficiency and renewable energy projects, NLB Banka Sarajevo is playing a vital role in promoting a greener economy in Bosnia and Herzegovina.
EBRD’s Commitment to Green Financing through EBRD Green Loan Initiatives
The EBRD has been active in Bosnia and Herzegovina since 1996, investing over €3.4 billion in 254 projects across the country. The bank’s focus on green financing is part of its broader strategy to support sustainable development, private-sector competitiveness, and regional integration.
Under the GEFF program, the EBRD has been instrumental in facilitating green financing, helping to create a more sustainable and energy-efficient future. This commitment to Bosnia solar energy is part of a wider regional strategy, with similar initiatives boosting green energy in North Macedonia and funding large-scale Slovenia solar projects. The bank’s extensive international scope is further evidenced by its support for diverse initiatives like Kyrgyzstan infrastructure projects. By partnering with local financial institutions like NLB Banka Sarajevo, the EBRD ensures that its green financing initiatives reach the grassroots, empowering communities to make environmentally friendly investments.
Impact on Bosnia and Herzegovina’s Economy with EBRD Green Loan
The €2 million loan to NLB Banka Sarajevo is expected to have a significant impact on Bosnia and Herzegovina’s economy. By promoting energy efficiency and renewable energy projects, the initiative will help reduce the country’s carbon footprint and support its transition to a sustainable energy future.
For SMEs, the availability of green financing means they can invest in energy-efficient technologies that reduce operational costs and increase competitiveness. For households, the program offers an opportunity to lower energy bills and improve living conditions through the adoption of modern, energy-efficient solutions.
As Bosnia and Herzegovina continues to develop its green economy, initiatives like the GEFF program will play a crucial role in driving sustainable growth and environmental stewardship. The collaboration between the EBRD, NLB Banka Sarajevo, and other stakeholders underscores the importance of joint efforts in achieving a greener and more sustainable future for the region. To learn more about how you can contribute to the green energy transition, explore our free e-course on solar energy.
