• The loan will help Serbia achieve energy independence and transition to a greener economy.
• AIK Banka funds local businesses and works towards building a more sustainable economy.

The Green for Growth Fund (GGF), an impact investment fund, has partnered with AIK Banka, an agro-industrial commercial bank, to expand green lending in Serbia.

The collaboration aims to provide loans to businesses in the Balkan country that invest in renewable energy projects and encourage them to adopt sustainable business practices. It will also help the country transition to a greener economy focusing on decarbonising the current energy systems.

Simon Gupta, GGF Board Chairperson, said: “It is our pleasure to establish this partnership with AIK Banka with a substantial investment which strengthens our commitment to renewable energy initiatives in Serbia. This partnership aims to drive advancements in renewable energy and contribute to a greener economy.”

The EUR 40 million offered to AIK Banka will go towards those projects in Serbia that address the country's growing energy needs and reduce carbon emissions. It is specifically for projects that focus on renewable energy development.

Petar Jovanović, CEO of AIK Banka, added: “Energy sustainability is a topic of high interest for the global community. I am proud that through this strategic partnership with GGF, AIK Banka is empowering local businesses to play an active role in building a greener economy.”

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Source: GGF