OTP Bank Albania in cooperation with the European Bank for Reconstruction and Development, from today, October 8, 2020, enable its newest product, financing for efficient housing investments for the green economy. In this way, OTP Bank Albania will be part of the WB GEFF Program, designed by the EBRD and supported by grants from the European Union, in full line with the principles of Corporate Social Responsibility of the Bank and EBRD for healthy living, and investments of sustainable and nature friendly.
The product known as Green Economy Financing Facility (GEFF) finances all investments that meet the GEFF eligibility criteria for green investments in the housing sector. To stimulate these investments, OTP Albania Bank customers will be able to receive a grant, in the amount of up to 20% provided by the EU.
The green credit line is a product dedicated to private individuals to increase energy efficiency in their households and in this way they will reduce energy bills and CO2 emissions into the air. All efficient technologies are already approved by the GEFF Program and are located in the Technology Selector, an online catalog of pre-approved equipment with high energy efficiency, which are present in the Albanian market. The catalog includes appliances such as efficient windows, heat pumps, solar panels and efficient insulation materials. In total there are 11 product categories from which OTP Albana Bank customers can choose.
Bank products that comply with the GEFF loan are: uncollateralized consumer loans, mortgage loans (including reconstructions), as well as home loans (in which investments recognized by GEFF have been made). Eligibility criteria, conditions and respective deadlines on funding applications set by the EBRD GEFF Program can be found on the official GEFF official website: https://ebrdgeff.com/albania/
OTP Bank Albania and the EBRD believe that investing in efficient and protective technologies of natural resources in the long run and sustainable, is the right and proper investment for healthy living and a positive impact on the environment where we operate.
The loan agreement through the EBRD and OTP Albania Bank was signed on February 24, 2020, and aims to increase financial investments that support the green economy in the housing investment sector in Albania. A total of 5m euros will be available for these investments.
Tirana, dated 08.10.2020
For more information you can contact the media contact Ms. Jonila Janku, Director of Marketing Department.
Jonila.janku@otpbank.al tel: +355 44 538 133
https://ebrdgeff.com/albania/grant-support/