Strengthening the green economy through investments in energy efficiency is one of the key priorities of the European Union. Also, energy efficiency lies at the heart of EU’s Energy Union.
The EU and the European Bank for Reconstruction and Development (EBRD) have launched the Green Economy Financing Facility (GEFF) to support businesses and homeowners who wish to invest in green technologies. The GEFF is a part of the Regional Energy Efficiency Programme (REEP), which helps the Western Balkans countries to unlock their energy efficiency potential. In 2016, the programme transitioned to REEP Plus in order to continue to support energy efficiency investments in the Western Balkans, particularly in the housing sector.
The GEFF programme for the Western Balkans is worth €135 million, with over €27 million being earmarked for Montenegro for the purposes of giving loans to Montenegrin households for financing energy efficiency improvements. In other words, the EU’s support, channelled through the EBRD’s Green Economy Financing Facility, will help Montenegrin citizens to improve the energy efficiency of their homes.
Homeowners benefiting from the programme will also be eligible to apply for an EU grant of up to 20% of their investment.