Albanians to get warm home boost from EU worth €5m

Investment will help with heating, draft insulation and glazing to improve housing efficiency in one of Europe’s poorer nations

The energy efficiency of residential buildings in Albania is about to get a boost with a chunky cash injection from the EU.

The European Bank for Reconstruction and Development (EBRD) is funding a €5 million (£4.2m) loan to Banka OTP Albania. The investment will benefit borrowers with plans for their homes that support energy savings and reduce CO2 emissions.

Homeowners will be able to choose from a wide range of technologies and opt for items such as double-glazed windows, high-efficiency boilers and photovoltaic systems.

Potential borrowers can also apply for a free-of-charge assessment of their investment proposals.

Projects that fulfil all the requirements will be eligible for a cash-back payment of up to 20% of the investment value.

The support for the preparation and implementation of the projects is funded by Austria while this incentive is funded by the European Union (EU), which provided a total of €1 million (£840,000) in grants.

To date, the EBRD has invested €1.4 billion (£1.17b) through 96 projects in the country.

Latest Podcast