Pristina, Kosovo, March 30, 2016–IFC,
a member of the World Bank Group has helped NLB Prishtina (NLB) increase
lending for energy efficient (EE) projects to private companies and households
in Kosovo, to help cut costs and mitigate climate change.
IFC began an advisory project with NLB
in June 2015 to help the bank better identify, evaluate and finance energy
efficiency projects. As a result of this and a dedicated training program,
NLB has developed two new lending products – EE loans for private households,
and EE loans for small and medium companies. The bank successfully piloted
the EE lending product for households from December to February and is
now officially launching both products.
“By using IFC’s experience and expertise
in sustainable finance, we are hoping to unlock the potential of investments
to make smaller businesses and private homes more energy efficient,"
said Albert Lumezi, Chairman of the Management Board of NLB Prishtina.
“We will continue to develop our EE lending to help our clients mitigate
climate change and contribute to a cleaner, more sustainable environment.”
The advisory project is a part of IFC’s
Sustainable Energy Finance Program in Europe and Central Asia, implemented
in partnership with Austria’s Federal Ministry of Finance. NLB Prishtina
is the second bank from Kosovo to join the program.
“Energy remains one of the most important
issues facing Kosovo today. Investments in energy efficiency are not only
good for the environment, they’re good for business, because they help
reduce energy consumption and save costs,” said Thomas Lubeck, IFC Regional
Manager for the Western Balkans. “Our work with NLB also supports the
government’s First National Energy Efficiency Action Plan, which aims
to achieve 9 percent of energy savings by 2018.”
Kosovo became a member and shareholder
of IFC in 2009. Since then, IFC has invested and mobilized $391 million
in five projects across a variety of sectors. In addition, IFC has supported
trade flows of $4.8 million through its trade finance program. IFC’s advisory
services in Kosovo aim to improve the investment climate and performance
of private sector companies, and attract private sector participation in
the 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 NLB Prishtina,
For more information about the Federal
Ministry of Finance, Austria, visit: http://english.bmf.gv.at.