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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.
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
www.ifc.org
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