EBRD AND INTESA SANPAOLO BANK ALBANIA

• EBRD lends €3 million to Albanian households and construction companies to boost green investments in the residential sector
• The loan will be supported by European Union and Japan
• Homeowners to receive up to 20 percent cash back upon successful installation

The European Bank for Reconstruction and Development (EBRD) is extending a €3 million loan to Intesa Sanpaolo Bank Albania for on-lending to households and construction companies with the aim to improve green standards in the sector.

The loan will be supported by the European Union (EU) through Western Balkans Investment Framework (WBIF) and the Japan-EBRD Cooperation Fund.

The EBRD’s loan under the Green Economy Financing Facility (GEFF) will support energy efficiency and renewable energy investments by individual residents, housing collectives, construction companies and the public sector.

Upon successful installation of the green technologies, homeowners will benefit from incentive payments that will amount to up to 20 per cent of the loan value.

Ekaterina Solovova, EBRD Head of Albania, said: “We are pleased to continue supporting the green economy transition in Albania. The GEFF financing will enable important investments in residential buildings to make them more energy efficient, ultimately leading to lower energy bills for the Albanian citizens and energy savings for the country”.

Alessandro D’Oria CEO of Intesa Sanpaolo Bank added: “Since 2015, Intesa Sanpaolo Bank Albania has collaborated and implemented successful projects in collaboration with EBRD to support agriculture, tourism, women in business, and youth in business. In addition, together we have concluded important financing of key projects for the country's infrastructure, energy, and sustainable tourism. Through this new financing, we will enable green investments for households, aligned with our ESG strategy.”

The GEFF funding will provide the financing to support investments in high-performance green technologies, sustainable materials and innovative solutions for privately owned residential dwellings and buildings.

Together with access to finance through GEFF loans, homeowners will receive guidance on choosing and acquiring energy saving equipment, such as insulation, windows, heat pumps and solar panels, which will reduce greenhouse gas emissions, cut energy costs and improve their quality of life.

The EBRD’s GEFF programme has helped more than 18,500 homeowners in the Western Balkans region to improve their energy efficiency. Overall, the Programme has contributed to nearly 260,000 MWh of energy savings per year and a reduction of more than 25,000 tonnes of CO2 emissions per year in the Western Balkans. 

Intesa Sanpaolo Bank Albania, part of the Intesa Sanpaolo Group, is a leading bank in the country offering quality banking services, financial solutions, innovative products and services to corporate, institutional, and high net worth clients, small and medium businesses and individual customers. Intesa Sanpaolo Bank Albania is a long standing EBRD partner, with a successful track record on multiple credit lines.

The EBRD is a leading institutional investor in Albania, having invested over €2.1 billion in more than 140 projects in the country to date.