BiH MFI provides unique energy efficient loans
Rural poor in Bosnia and Herzegovina will now be able to apply for a brand new microcredit loan entitled “loans for warm housing” from World Vision’s Microfinance Institution EKI.
These upgrades will lead to lower bills and a more comfortable living environment for this population.
The loan targets rural poor population with the basic goal to save the energy in their houses and improve environmental conditions in BiH.
With this loan, clients will be able to get better insulation, more efficient windows, and generally, a more effeciantly heated home.
These upgrades will lead to lower bills and a more comfortable living environment for this population.
EKI is the first Microfinance Institution (MFI) in BiH to provide this type of loan to its clients thanks to the collaboration with IFC, the private sector arm of the World Bank Group
”We value our ongoing collaboration with IFC a provider of equity, debt, and advisory services. This product is important so that people an maximise on heating their homes. We can also help our clients to save money in the long-term. This project is in alliance to world environmental standards and reduction gas emission. EKI marketing activities are also important to mention as they are two fold. One is education of the population and another is promotion of the loan product. The education process is extremely important if we look at the long term benefit of the whole project", said Borislav Petric, MCO EKI Marketing Manager
We can also help our clients to save money in the long-term The loans are possible through a loan contract between EKI and the IFC of 3million Euro. In compliance with this Contract EKI is obliged to spend 2,4 mil EUR on financing of loan portfolio. The rest of 0.6 mil. EUR is for financing disbursement of the new loan product – Loan for warm home (known as Energy efficiency), which will be implemented as pilot project as part of regular credit activities.
A further grant agreement has been signed for 60.000 Euro for the implementation costs of the loan including staff education, promotion and marketing of the new product.
These upgrades will lead to lower bills and a more comfortable living environment for this population.
The loan targets rural poor population with the basic goal to save the energy in their houses and improve environmental conditions in BiH.
With this loan, clients will be able to get better insulation, more efficient windows, and generally, a more effeciantly heated home.
These upgrades will lead to lower bills and a more comfortable living environment for this population.
EKI is the first Microfinance Institution (MFI) in BiH to provide this type of loan to its clients thanks to the collaboration with IFC, the private sector arm of the World Bank Group
”We value our ongoing collaboration with IFC a provider of equity, debt, and advisory services. This product is important so that people an maximise on heating their homes. We can also help our clients to save money in the long-term. This project is in alliance to world environmental standards and reduction gas emission. EKI marketing activities are also important to mention as they are two fold. One is education of the population and another is promotion of the loan product. The education process is extremely important if we look at the long term benefit of the whole project", said Borislav Petric, MCO EKI Marketing Manager
We can also help our clients to save money in the long-term The loans are possible through a loan contract between EKI and the IFC of 3million Euro. In compliance with this Contract EKI is obliged to spend 2,4 mil EUR on financing of loan portfolio. The rest of 0.6 mil. EUR is for financing disbursement of the new loan product – Loan for warm home (known as Energy efficiency), which will be implemented as pilot project as part of regular credit activities.
A further grant agreement has been signed for 60.000 Euro for the implementation costs of the loan including staff education, promotion and marketing of the new product.
Share