Regional Broadband Infrastructure Development

Regional Energy Efficiency Programme for the Western Balkans - REEP Plus

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Project Financing

EBRD Loan € 68,500,000
KFW Loan € 32,400,000
WBIF Grant WB-IG01-REG-ENE-01 € 23,750,000
WBIF Grant WB-IG01-REG-ENE-02 € 5,000,000
WBIF Grant WB15-REG-ENE-02 € 1,800,000
Other donors External Grant € 5,900,000
KfW External Grant € 300,000
Federal Ministry of Finance of Austria External Grant € 2,700,000
EBRD Loan € 2,000,000
EBRD Loan € 5,000,000
EBRD Loan € 5,000,000
EBRD Loan € 7,000,000
EBRD Loan € 2,000,000
EBRD Loan € 2,000,000
EBRD Loan € 1,500,000
EBRD Loan € 3,000,000
EBRD Loan € 5,000,000
EBRD Loan € 5,000,000
EBRD Loan € 5,000,000
EBRD Loan € 5,000,000
EBRD Loan € 5,000,000
EBRD Loan € 5,000,000
EBRD Loan € 3,000,000
EBRD Loan € 6,000,000
Total € 206,850,000
Total Grants € 30,550,000
Total Loans € 167,400,000

Project Description

The energy intensity of the six Western Balkan countries is around three times higher than the average for the European Union, often as the result of aged and obsolete energy infrastructure and poorly maintained and/or outdated energy-using capital stock. Moreover, there is a growing need amongst the WB6 for cleaner energy while reducing dependence on imported energy sources.

In order to address such investment needs, the European Commission, in partnership with the Energy Community Secretariat (ECS) and the EBRD, established the Regional Energy Efficiency Programme (REEP) for the Western Balkans in 2013. 

REEP provides hands-on support to beneficiary countries with:

a). Policy Dialogue and project preparation support for Energy Service Company (ESCO) projects and national Energy Efficiency Action Plan implementation;
b). Credit line facility through local financial institutions for projects in private and public sectors (“WebSEFF”);
c). Direct lending facility covering public and private sector sustainable energy projects, including renewables and ESCOs (“WeBSEDFF”).

REEP Plus will continue to address policy barriers and bring additional benefits through a combination of project preparation support and medium-term financing to households, public and private sector for energy efficiency (EE) and renewable energy (RE) investments with a main focus on the residential sector. It will follow a similar structure to the original REEP with the addition of a residential component under Window 2. The Direct Lending Facility will continue to cover both municipal and private sector investments in sustainable energy, including small renewable energy projects.

The European Union, through the WBIF, has contributed a further €30 million grant in 2016, under the Connectivity Agenda. 

Results and Benefits

  • €140 million on-lent to finance eligible investments
  • 20,000 households receiving finance
  • 10 housing associations or housing management companies or technology/ services providers assisted with the development of EE projects for buildings
  • Improved energy efficiency both in the commercial and residential sectors and thus improved economic competitiveness and growth
  • Smaller energy bills for households and housing collectives
  • Better living conditions
  • Increased private sector involvement in the development and financing of sustainable energy investments
  • New businesses and jobs associated with energy services and buildings upgrade
  • Countries: Albania,Bosnia and Herzegovina,Kosovo*,North Macedonia,Montenegro,Serbia
  • Code: PRJ-MULTI-ENE-011
  • Sector: Energy
  • Monitor IFI: EBRD
  • Status: Implementation
  • Beneficiary:
Project financing split

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