EIB grants energy efficiency loans to municipalities and businesses in Croatia
Funding will become available in the first quarter of 2020
- October 13, 2019 13:00
- Monika Dimitrova
Municipalities and businesses in Croatia looking to increase the energy efficiency of their properties will benefit from a new program worth over 2 million euros, announced the European Investment Bank (EIB) and the Croatian Bank for Reconstruction and Development (HBOR).
The program will allow for owners of primarily E and F energy class private sector buildings to receive financial support and submit applications for European Structural and Investment Funds (ESIF) loans to improve energy efficiency or install in-building renewable energy sources.
HBOR will extend the same support to municipalities applying for ESIF loans. This way Croatian Municipalities will benefit from the program and will be able to improve city lighting networks.
- EIB provides more than 2 million euros for HBOR to support Croatian businesses and municipalities;
- The package will allow HBOR to assist eligible entities attract up to 57.6 million euros worth of investments;
EIB program will support eligible entities to invest more than 57 million euros in energy efficiency, save up to 35 GWh of energy every year and reduce CO2 emissions. This will improve around 130,000 m2 of public and private buildings space and improve safety on the street thanks to the erection of around 60,000 lighting posts across the country.
The agreement between the two financial institution will increase energy efficiency of Croatian businesses and municipalities and contribute towards securing safer streets for the citizens. EIB encourages businesses and municipalities to apply with HBOR and help not just themselves and Croatia, but the entire planet.
This is one more activity with which will significantly reduce funding costs for users while increasing the success of these projects. These funds are expected to be available to customers in the first quarter of 2020. Business building owners and local governments will all be eligible to apply for the support directly at HBOR.
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