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GGF credit line for energy efficiency improvement

Banca Intesa and the Green for Growth Fund, Southeast Europe (GGF) have signed a EUR 7 million loan agreement for supporting energy efficiency projects. The dinar and euro-indexed lending is available to individuals.

“In keeping with its dedication to incorporating social responsibility in all segments of its operations and in line with Intesa Sanpaolo Group policies and commitment towards environmental issues, Banca Intesa was the first bank in the Serbian market to join the government’s program of state-subsidized energy efficiency loans for individuals earlier this year. The GGF credit line will further strengthen the Bank’s capacity for energy efficiency lending to households, enabling them to make substantial energy savings, while at the same time providing active contribution to environmental protection and overall community development,” said Marco Capellini, Deputy Chairman of Banca Intesa Executive Board.

The loan is aimed at financing mainly building envelope improvements, e.g. upgrading thermal insulation in walls, installing energy efficient windows, boilers and central heating systems, and other modern energy-saving solutions. Banca Intesa’s portfolio of energy efficiency subloans funded by the GGF’s EUR 7 million loan is projected to achieve 20% in primary energy savings. This will ultimately translate in annual energy savings of approximately 20,000 MWh and CO2 reductions of approximately 6,500 tons per year.