The FINANCIAL -- The EBRD has signed the first project under a €140 million Street Lighting Framework for the Baltic states, central, and south-eastern Europe.
A loan to Javna Razsvetljava d.d. will enable the Slovenian company to invest in new projects and develop further the street lighting market in Slovenia and in the region of central and south-eastern Europe.
The framework is funded with €100 million from the EBRD’s ordinary capital resources, while up to €40 million from the Green Energy Special Fund will be mobilised on a sub-project level, where eligible.
The provision of good street lighting is directly related to road and personal safety. It promotes security in urban areas and increases the quality of life. These investments will also improve the environment in line with the EBRD’s Green Economy Transition approach under which the Bank aims to increase the volume of its green financing to 40 per cent of its total annual business investment by 2020, according to EBRD.
Jolanta Gabriel, EBRD Head of Slovenia, said: “We are happy that we are opening our regional Street Lighting Framework with Javna. The company has established a very good track record of successful projects in Slovenia and is a good example of how private sector financing can play an important role in improving public sector services in new and innovative ways.”
Stanko Furlan, member of Javna’s management board, added: “This loan will enhance our company’s ability to invest and develop new street lighting investments in Slovenia and the region. We are focusing our future operations throughout the region to promote environmentally sustainable investments by providing the best street lighting systems that result in significant energy savings.”
The Street Lighting Framework will be available in the following 16 of the 36 countries where the EBRD currently invests: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Estonia, FYR Macedonia, Hungary, Kosovo, Latvia, Lithuania, Montenegro, Poland, Romania, Serbia, the Slovak Republic and Slovenia.