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

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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.

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