Pristina, Kosovo, December 8, 2015 —
With support from IFC, a member of the World Bank Group, Banka
pėr Biznes (BPB) has developed new loan products to finance energy efficiency
projects for homes and smaller businesses in Kosovo.
IFC began its advisory work with BPB in September
2014 to help the bank develop expertise in energy efficiency-based lending.
As the result of this cooperation, BPB has developed two lending products
– energy efficiency (EE) loans for private enterprises and EE loans for
individual borrowers, which were presented to bank clients, industry representatives
and the public at the event in Pristina marking the start of lending.
“Cooperation with IFC helped improve BPB’s
expertise and internal capacity to develop banking business for energy
efficiency lending,” said Richard Beasley, CEO of BPB. “Financing for
energy efficient projects is complex, yet there is significant investment
potential in an energy efficient modernization of Kosovo’s private households
and small and medium enterprises. We are glad to support the realization
of this potential.”
After the official launch of banking products,
IFC will further cooperate with BPB in joint promotional activities and
provide transactional support. The advisory project with BPB is part of
IFC’s Sustainable Energy Finance Program in Europe and Central Asia implemented
in partnership with Austria’s Federal Ministry of Finance.
“Increasing energy efficiency is a priority
for Kosovo, largely because businesses that implement energy efficiency
measures can reduce the share of energy costs in their operations and increase
their chances of long-term success and viability,” said Thomas Lubeck,
IFC Regional Manager for the Western Balkans. “Individuals can also reduce
their energy costs while improving living conditions in their households.”
Kosovo became a member and shareholder of
IFC in 2009. Since then, IFC's investment in Kosovo totaled $389.8 million,
including funds mobilized from our partners. In addition, IFC has supported
trade flows of $4.8 million in Kosovo through its trade finance program.
IFC is also working to improve the investment climate, performance of private
sector companies and to attract private sector participation in development
of infrastructure projects.
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in emerging markets. Working
with more than 2,000 businesses worldwide, we use our capital, expertise,
and influence, to create opportunity where it’s needed most. In FY15,
our long-term investments in developing countries rose to nearly $18 billion,
helping the private sector play an essential role in the global effort
to end extreme poverty and boost shared prosperity. For more information,
For more information about Banka pėr Biznes,
For more information about the Federal
Ministry of Finance, Austria, visit: http://english.bmf.gv.at.