Serbia: Low Carbon Energy Facility Phase I
Energy Efficienc and Renewable Energy /EE/RE) is gaining importance in Serbia and it is an explicit objective of the Serbia Government ot increase EE/RE. However, EE/RE investmentsnare still insufficiently mainly due to (i) a lack of awareness of the need to conserve/save energy on part of enterprises, municipalities and households and (ii) limited access to long-term financing for EE/RE invetments. The Project “Low Carbon Energy Facility” adresses these challenges. Under this Project up to three partner financial institutions (PFIs) will implement Credit Lines under this project to be extended as EE/RE loans to MSMs, private households and municipalities.
The objective of the "Low Carbon Energy Facility" project is to increase and deepen access of micro, small and mediumsized enterprisies, households and municipalities to EE/RE finance thus contributing to the deepening and broading of the financial sector as well as to climate protection through the reduction of energy consumption and CO2-emissions in Serbia, by supporting UniCredit Bank and S-Leasing Bank with with the successful implementation of EE & RE credit lines to enable MSMEs and privat ehouseholds to finance sustainable and CO2 reduction investments in accordance with the Sustainability Guidelines of KfW.