1.5M Euro Loan for Energy Efficiency for Bosnia and Herzegovina SMEs

February 19th 2018

THE Green for Growth Fund (GGF) has provided a €1.5 million senior loan to MCF Sunrise Sarajevo (MCF Sunrise) for a new energy efficiency loan product for their clients.

MCF Sunrise has a strong focus on low income entrepreneurs and micro and small businesses in urban and semi-urban areas of the country, offering the fund an opportunity to deepen its outreach in the microfinance sector.

The loan will be used to finance a new energy efficiency loan product for MCF Sunrise’s clients through its 43 branches located throughout the country. Along with supporting MCF Sunrise’s growth in rural regions and ambitions to educate its clients on energy efficiency measures and benefits, planned internal capacity building and marketing supporting will be provided through the fund’s Technical Assistance Facility.

GGF Chairman Christopher Knowles stated: “We are pleased to support energy efficiency investments in the microfinance sector in Bosnia and Herzegovina by partnering with MCF Sunrise. Through this loan, the GGF will support the acceleration of investments in energy efficiency and raise market awareness among micro entrepreneurs and small businesses in Bosnia and Herzegovina.”
 
MCF Sunrise Director Samir Bajrović stated: “We are extremely pleased that our organization is recognized by the GGF as a reliable partner in providing the necessary funding that will support the implementation of energy efficiency measures to microcredit clients in Bosnia and Herzegovina. Our organization is committed to continuously support programs and activities resulting in the reduction of energy poverty, improvement of air quality and reduction of CO2 emissions, and we are certain that through this project we will secure better living standards for our clients.”

Source: GGF. Picture of Sarajevo by Julian Nitzsche – Own work, CC BY-SA 4.0.

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