25,000 Western Balkan families get warmer, greener homes
A total of 25,000 families across the Western Balkans are now benefiting from warmer, more affordable and more energy-efficient homes thanks to improvements financed through the Green Economy Financing Facility (GEFF), part of the Western Balkans Investment Framework's (WBIF) Regional Energy Efficiency Programme, with support from the European Bank for Reconstruction and Development (EBRD), the European Union (EU) and other donors. For many households, these investments have enabled practical changes whose benefits are being felt every day: lower energy bills, better heating and cooling, cleaner energy produced at home and an improved living environment.
The regional milestone was marked with a visit to the family in Vrčin, near the Serbian capital Belgrade, that became the 25,000th household in the region to benefit from GEFF financing. With support from 3 Banka, a Serbian microfinance bank, the family installed rooftop solar panels, helping them generate cleaner energy at home and reduce their energy bills.
Their story reflects the wider impact of GEFF across the region. From better insulation and high-efficiency windows to heat pumps, biomass systems and solar panels, the programme is helping households invest in practical green technologies that improve everyday living conditions while reducing energy consumption and emissions.
GEFF is designed to make this kind of investment easier for households. The EBRD provides financing to local partner banks and microfinance institutions, which then lend to families and homeowners. Households can also receive investment grants funded by the EU and other donors, helping to make green technologies more affordable. By working with local financial institutions such as 3 Banka, the EBRD and its donors are helping households access financing for green technologies that might otherwise be difficult to afford.
"We share this home with our son and his family. As he works in the construction industry, he is familiar with new technologies, and he encouraged us to invest in solar panels. We had no doubts about the idea, and being able to apply for a loan from 3 Banka made the whole process very easy for us," said Slađana Stojanović, who is part of the household that received the 25,000th loan. "We used to spend €100 each month on electricity, now we spend only €25. We also invested in a heat pump to replace our old wood and coal stove, and we expect to see even bigger savings this winter when we start using it."
"Behind this milestone are 25,000 households that have been able to make their homes warmer, greener and more affordable to run. The family in Vrčin is a powerful example of how access to green finance can make clean energy solutions practical for people's everyday lives. Together with the EU, our donors and partner banks such as 3 Banka, we are helping more families across the Western Balkans to take part in the green transition," said Aleksandra Vukosavljević, EBRD Director for Financial Institutions in the Western Balkans and Eastern Europe.
"Reaching 25,000 households is an important milestone that shows how EU support is helping families across the Western Balkans benefit directly from the green transition. The story of the family in Vrčin shows in a very tangible way what this means in practice: lower energy bills, greater comfort at home and cleaner energy for the future. This is exactly the kind of practical investment in people, communities and long-term resilience that the European Union is proud to support in Serbia and across the region," said Andreas von Beckerath, Ambassador of the European Union to the Republic of Serbia.
The Western Balkans remains a key region for residential energy-efficiency investments. The residential sector is one of the region's largest energy consumers, and many homes still need modern, efficient technologies to reduce energy waste and improve comfort. Through GEFF, households are able to choose eligible technologies and work with local banks to finance improvements suited to their needs.
Since the launch of GEFF in 2017, the EBRD has signed €280 million of GEFF loans with 38 partner financial institutions. The EBRD's GEFF programme in the Western Balkans is co-funded by the EU through the Western Balkans Investment Framework, Austria, Denmark, Japan, and Austria and Switzerland through the High-Impact Partnership on Climate Action (HIPCA)*.
*The EBRD's HIPCA is supported by Austria, Canada, Finland, Germany, the Netherlands, South Korea, Spain, Switzerland, the TaiwanICDF, the United Kingdom and the United States of America.
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About REEP
Launched in 2013 under the Western Balkans Investment Framework (WBIF), the Regional Energy Efficiency Programme (REEP) supports renewable energy and energy efficiency investments across the region. With over €1 billion mobilised to date, it has refurbished more than 90 public buildings, supported 1,500 SMEs and 20,000 households. The achieved annual CO₂ emissions saved is equivalent to removing 183,000+ cars from the roads.
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About WBIF and Global Gateway
The Western Balkans Investment Framework (WBIF) contributes directly to Global Gateway, the EU's strategy to boost smart, clean and secure connections in digital, energy and transport, while strengthening health, education and research systems worldwide. Global Gateway aims to mobilise up to €300 billion worldwide in investments through a Team Europe approach, bringing together the EU, its Member States and financial institutions to leverage investments for a transformational impact.