CREDITING OF ENERGY EFFICIENT PROJECTS BY THE EBRD WITH A LOOK AT SERBIA

Univerzitet u Novom Sadu, Ekonomski fakultet Subotica, Srbija
Serbia

Univerzitet u Istočnom Sarajevu, Ekonomski fakultet Pale, Republika Srpska, Bosna i Hercegovina
Bosnia and Herzegovina


Bosnia and Herzegovina


Abstract

The concept of energy efficiency is a set of all measures and activities aimed at achieving minimal energy consumption, but that quality in all aspects of life remains the same or improves. Improving energy efficiency both in the production sectors and in the energy consumption sectors has been recognized as one of the key elements of the energy policy of the Republic of Serbia, since it contributes to security of energy supply, reduction of energy consumption in the private and commercial sector, increasing the competitiveness of industry and increasing the standards of citizens. The projected role of banks implies, not only the potential of banks to finance favorable credit lines, but also the potential of banks as an equal partner in the realization of the national energy savings target. The EBRD is leading in the activities related to energy efficient loans, by creating a program for financing the green economy (GEF). The subject of the research in this paper are energy efficient loans, which are introduced for the purpose of preserving the environment, as well as increased efficiency and significant savings in financial terms. The ultimate goal of investing in energy efficiency is to minimize energy consumption without compromising the level of comfort but to maintain or even increase comfort. Investing in energy efficiency projects has many barriers, such as very high initial costs, transaction costs, lack of capacity, low level of awareness or understanding of the concept of financing, or structural problems. Systematic support from the state is of utmost importance for the development of energy efficiency.

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References


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