A green home financing programme supported by the European Bank for Reconstruction and Development (EBRD) and the European Union has provided energy efficiency upgrades to 25,000 families across the Western Balkans. The Green Economy Financing Facility (GEFF) celebrated the regional milestone by visiting a household in Vrčin, near Belgrade, which became the 25,000th recipient.

Supported by funding from local lender 3 Banka, the family installed rooftop solar panels to generate clean energy and cut household bills. The programme enables homeowners to invest in insulation, high-efficiency windows, heat pumps, biomass systems, and solar power to reduce energy waste.

Household recipient Slađana Stojanović explained the impact of the investment on her family’s energy expenses.

Slađana Stojanović, who is part of the household that received the 25,000th loan, said: “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.”

Speaking about the benefits of the investment, Slađana said: “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 a heat pump.”

Under the GEFF structure, the EBRD routes finance through local partner banks and microfinance institutions to reach homeowners. Applicants can also secure investment grants funded by the EU and other international donors. Since starting in 2017, the EBRD has signed €280 million of GEFF loans with 38 financial institutions in the region.

Aleksandra Vukosavljević, EBRD Director for Financial Institutions in the Western Balkans and Eastern Europe, said: “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.”

“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 residential sector remains a major energy consumer in the Western Balkans, where many properties lack modern insulation and heating. Funding for the GEFF programme in the region includes co-financing from the EU via the Western Balkans Investment Framework, along with Austria, Denmark, Japan, Switzerland, and the High-Impact Partnership on Climate Action (HIPCA).