The European Bank for Reconstruction and Development (EBRD) has provided Montenegro with a €20 million loan to enhance energy efficiency in 24 educational buildings, including schools and a student dormitory. This initiative is supported by EU funding and aims to significantly reduce energy consumption and CO₂ emissions while creating healthier environments for students and teachers.

This project represents the EBRD's first energy efficiency loan for educational buildings in Montenegro. The funding will be distributed through Montenegro’s Ministry of Education, Science, and Innovation to finance comprehensive upgrades such as new heating, ventilation, air conditioning systems, and renewable energy installations like solar power.

A €4 million grant from the EU’s Regional Energy Efficiency Programme for the Western Balkans (REEP) supports this effort along with €215,000 allocated for technical assistance. The project targets a reduction in energy consumption by over 50%, contributing to decreased CO₂ emissions.

A signing ceremony marked the formalization of this collaboration. Attendees included Montenegrin Finance Minister Novica Vuković, Education Minister Anđela Jakšić-Stojanović, EBRD Head of Montenegro Remon Zakaria, and EU Ambassador Johann Sattler.

Minister Vuković emphasized the partnership's positive impact on Montenegro’s energy policy. Jakšić-Stojanović noted the project's thorough groundwork involving energy audits and feasibility studies. Zakaria highlighted the importance of supporting sustainable infrastructure in education, while Sattler commended the use of combined EU grants and EBRD loans to foster green transitions in Montenegro. Sue Barrett from EBRD underscored the project's alignment with ongoing efforts to improve public infrastructure energy efficiency.

Since its association with Montenegro in 2006, EBRD has invested over €880 million in various projects within the country. The European Commission has also contributed more than €1 billion in non-repayable funds during this period.

For further information:
Tel: +44 207 338 7805
Email: Group-PressUnit@ebrd.com

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