News

EBRD Funds Energy Efficiency in Bosnia and Herzegovina

19 January 2012: The European Bank for Reconstruction and Development (EBRD) has announced it will finance the implementation of energy saving measures in Bingo stores, one of the lead retail chains in Bosnia and Herzegovina.

In the context of an effort to further promote energy efficiency, the EBRD is providing a €5.4 million loan, part of the Bank's Western Balkans Sustainable Energy Direct Financing Facility (WeBSEDFF), to Bingo's subsidiary, Hekom, which manages the company's energy efficiency programmes. WeBSEDFF is dedicated to financing medium-sized renewable energy projects and energy efficiency projects. To date, WeBSEDFF has financed eight projects in the region for a total loan volume of €29.4 million.

The loan will be used to install water-to-water heat pumps, LED lighting, chillers, high performing refrigeration with heat recovery, as well as insulation panels. It is estimated that the financed measures will reduce CO2 emissions by approximately 4,700 tonnes, equivalent to a saving of 51 kg of CO2 per square metre of retail space per year. Libor Krkoska, Head of the EBRD office in Bosnia and Herzegovina, expressed the hope that other companies will follow the lead of Bingo in implementing energy efficiency measures. [EBRD News]