GGF Boosts Energy Efficiency in Balkans with EUR 5 Million Investment in Partner MCF
The Green for Growth Fund (GGF) has contributed toward energy efficiency and environmental protection in the Balkan region through a new EUR 5 million senior loan investment in Bosnia and Herzegovina’s Partner Microcredit Foundation (Partner MCF).
The third largest microcredit institution in the country, Partner MCF provides microloans predominantly to rural customers for home insulation purposes in local communities. Bosnia and Herzegovina has high potential for energy efficiency improvements, with energy intensity almost 40 percent higher than in other Western Balkan countries – more than twice the EU average. The loan from the GGF will go toward financing energy efficiency measures that are projected to result in annual primary energy savings of approximately 41,000 MWh, reducing CO2 emissions by 12,400 metric tons per year.