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News / Green financing boost for farmers in Kosovo
The Green for Growth Fund (GGF) is investing €3 million in expanding credit lines for green measures in Kosovo. These include updating agricultural equipment with more energy efficient models or improving household insulation in order to reduce energy waste. The investment is expected to save over 2,700 MWh and reduce more than 320 tons of CO2 emissions every year, with a particular focus on maintaining the ability of borrowers to continue investing in a greener future, even against the background of the COVID-19 crisis.
The GGF was initiated in December 2009 as a public-private partnership between Germany’s KfW Development Bank and the European Investment Bank, with financial support from the European Commission, the German Federal Ministry for Economic Cooperation and Development, the European Bank for Reconstruction and Development, and the Austrian Development Bank. This grant has been made to the KEP Trust microfinance organisation for on-lending to private individuals and small farmers in Kosovo.
The GGF invests in measures designed to cut energy use and CO2 emissions, and improve resource efficiency in 19 markets across Southeast Europe and Turkey, the European Eastern Neighbourhood Region, and the Middle East and North Africa.
Photo Credit: KEP
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