March 18 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it is providing a 7 million euro ($7.6 million) loan to Bosnia's UniCredit Bank Mostar [SAJ:ZGBMR], part of Italy's UniCredit Group, for residential green investments.
The loan will be used for on-lending to residents, housing collectives, construction companies and the public sector for investments in energy efficiency and renewable-energy initiatives, the EBRD said in a press release on Friday.
The loan is extended under the Western Balkans Green Economy Financing Facility (GEFF).
Upon successful implementation of energy-saving criteria, borrowers will be eligible for up to 20% cashback, funded by the European Union (EU) through the Western Balkans Investment Framework (WBIF). Japan and the EU will provide technical and policy support to UniCredit Bank and residential-sector businesses.
UniCredit Bank Mostar's shares last traded on the Sarajevo bourse on May 26, when they closed 48.81% higher at 7,500 marka ($4,178/3,835 euro).
UniCredit Bank Mostar is based in the Federation, one of two autonomous entities that form Bosnia and Herzegovina. UniCredit Group has another bank in Bosnia, UniCredit Bank Banja Luka, headquartered in the other entity - the Serb Republic.
($ = 0.918 euro)
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