Green Forum • 19 June, 2024 at 10:00 AM
The European Union and Kreditanstalt für Wiederaufbau(KfW) have signed a Guarantee Agreement enabling the financing of additional renewable energy generation capacities and further network development.
The EU will be providing €260 million in guarantees for infrastructure projects, via the European Fund for Sustainable Development Plus (EFSD+).
The guarantees will enable KfW to provide loans on a commercial sub-sovereign basis to energy utilities in the Western Balkans and Eastern Neighbourhood regions. An additional €13 million for technical assistance will support enhancing the market readiness and accelerating the green transformation of energy sectors.
The implementation of the Green Deal in Western Balkans and Eastern Neighbourhood regions involves the sustainable transformation of the energy sector and a just green transition. It ambitiously requires simultaneous implementation of investments and developments in actors such as energy utilities. Thanks to this EU support KfW will fund technical assistance to energy utilities and for renewable energy generation capacities and power grids to an amount of up to €330 million.