EBRD and partners launch energy efficiency programme for homes in Montenegro
The European Bank for Reconstruction and Development (EBRD) is launching a new Green Economy Financing Facility (GEFF) in Montenegro that will provide loans to households for energy efficiency improvements.

Crnogorska Komercijalna Banka (CKB), member of OTP Group, has signed up as the first partner financial institution in the country with a credit line of €2 million for on-lending to homeowners. The investments will help to make households more energy efficient, reduce greenhouse gas emissions and improve living standards.

The financing is part of a larger €135 million GEFF programme for the Western Balkans.

The programme will benefit from over €27 million in incentives to end borrowers provided by the European Union through the Western Balkans Investment Framework. Technical assistance to support the preparation, implementation and monitoring of the programme is supported by grants by the government of the Republic of Austria with over €5 million and additional nearly €2 million by bilateral donors to the WBIF.

GEFF is implemented under the umbrella of the Regional Energy Efficiency Programme for the Western Balkans (REEP Plus), funded by the EU and delivered in partnership with the Energy Community Secretariat.

Homeowners who benefit from financing under the programme will also be eligible to apply for an EU grant for up to 20 per cent of their investment. Households installing energy efficiency solutions such as double-glazed windows or new boilers can also access financing under the programme.