EBRD and EU Partner with Montenegro to Boost Energy Efficiency in Schools, Cutting CO₂ and Energy Costs

EBRD and EU Partner with Montenegro to Boost Energy Efficiency in Schools, Cutting CO₂ and Energy Costs

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) has granted Montenegro a €20 million loan, supplemented by EU funding, to improve energy efficiency in 24 educational buildings, including schools and a student dormitory. The upgrades, which will include new heating, ventilation, and renewable energy systems, aim to reduce energy consumption by over 50% and decrease CO₂ emissions, creating healthier environments for students and teachers. This initiative, a collaborative effort between the EBRD, EU, and Montenegrin government, represents a significant investment in sustainable public infrastructure.

(PRESS RELEASE) LONDON, 2-Nov-2024 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD) has extended its first energy efficiency loan for educational buildings in Montenegro, providing up to €20 million to enhance the energy performance of 24 schools, kindergartens, and a student dormitory. This funding, distributed through Montenegro’s Ministry of Education, Science and Innovation, will finance comprehensive upgrades such as new heating, ventilation, and air conditioning systems, as well as renewable energy installations, potentially including solar power.

The project, backed by a €4 million grant from the EU’s Regional Energy Efficiency Programme for the Western Balkans (REEP) and €215,000 for technical assistance, aims to reduce energy consumption by over 50%, helping to cut CO₂ emissions and create healthier, more comfortable learning environments. This collaboration was formalized in a signing ceremony attended by notable figures, including 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 impact on Montenegro’s energy policy and the benefits for students and educators. Jakšić-Stojanović highlighted the project’s thorough groundwork, including energy audits and feasibility studies. Zakaria noted the significance of supporting sustainable infrastructure in the education sector, while Sattler praised the combined use of EU grants and EBRD loans to promote green transitions in Montenegro. Sue Barrett, EBRD’s Director of Infrastructure for Europe, emphasized the project’s alignment with EBRD’s ongoing efforts to boost energy efficiency in Montenegro’s public infrastructure.

Since Montenegro’s association with the EBRD in 2006, the Bank has invested over €880 million in the country, supporting competitiveness, sustainability, and regional market integration. The European Commission has also contributed over €1 billion in non-repayable funds to Montenegro over this period.

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Publish date : 2024-11-02 03:52:00

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