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IFC, Banka për Biznes Launch Lending Products to Increase Energy Efficiency in Kosovo

Pristina, Kosovo, December 8, 2015 With support from IFC, a member of the World Bank Group, Banka për 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.
About IFC
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, visit .
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