The European Bank for Reconstruction and Development (EBRD) has set up a loan program to develop the street-lighting market in Slovenia and in central and southeastern Europe.
The Street Lighting Framework program is funded with $109 million from EBRD, with up to $43 million from the Green Energy Special Fund for related projects, according to a bank press release.
An initial loan to Javna Razsvetljava d.d. will help the company develop the street lighting market. More lighting means better road and personal safety.
"We are happy that we are opening our regional Street Lighting Framework with Javna," Jolanta Gabriel, EBRD representative in charge of Slovenia, said in the release. "The company has established a very good track record of successful projects in Slovenia and is a good example of how private sector financing can play an important role in improving public sector services in new and innovative ways."
Stanko Furlan, who is on Javna’s management board, said in the release that the company is focused on environmentally sustainable project.
“This loan will enhance our company’s ability to invest and develop new street lighting investments in Slovenia and the region," Furlan said. "We are focusing our future operations throughout the region to promote environmentally sustainable investments by providing the best street lighting systems that result in significant energy savings."