EBRD, EU financing energy efficiency in Serbia

NEWS 25.01.2023 15:59
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Serbia is set to receive 14 million Euro from the European Bank for Reconstruction and Development (EBRD) and the European Union to improve the energy efficiency of its public buildings, the EBRD said on Wednesday.

“The package, which includes a €12 million EBRD loan and a €2 million grant from the EU, will help finance energy efficient retrofit measures in 80 public buildings, including education, healthcare, administrative, sports and cultural buildings, across 20 municipalities in Vojvodina. These buildings will be renovated with thermal insulation, new windows, upgraded heating, ventilation and cooling systems, and energy efficient lighting,” the press release said.

In addition to €2 million grant from the EU, the project also benefits from close to €2 million grants for technical cooperation, provided by Swedish International Development Cooperation Agency (SIDA) and Italy through Central European Initiative (CEI).

It added that the improvements are expected to contribute to primary energy reduction of 53 per cent and annual CO2 emission reductions of 56 per cent.

“Speeding up renovation in the building sector is vital for energy savings and security. Lower energy consumption will benefit the public authorities and energy systems as a whole. Together with the EU and other donors, the EBRD will continue to provide funding and technical support to the authorities to make investments in energy efficiency much more affordable and easier to prepare and implement,” EBRD Director for the Western Balkans Matteo Colangeli is quoted as saying.

The EBRD said that buildings account for around 34 per cent of energy consumption in Serbia.