This loan is being provided under the new Kosovo Sustainable Energy Projects Framework (KoSEP).
The framework will offer loans for financing of rational energy utilisation and assist small and medium-sized enterprises and residential borrowers in lessening surging energy prices and reducing the high intensity of energy use in Kosovo.
Commenting on the initiative TEB chairman Orkun Mungan said that the loan being provided by EBRD will strengthen TEB’s position in the energy market.
EBRD Western Balkans, Belarus, Moldova and Ukraine director Henry E. Russell said, "The launch of the KoSEP framework marks our strategic priority to support the sustainable development of Kosovo’s energy sector on a wider scale as outlined in our country strategy.
"The framework will demonstrate the benefits of energy conservation and rational energy utilisation for business and households in times of increasing electricity prices. Lower energy costs will strengthen the competitiveness of local enterprises and reduce the burden on households."
KoSEP was approved by the EBRD Board of Directors on 1 May 2013. It has been provided with about €12m EBRD finance and €3m grant support from the EU Office in Kosovo.
