EIB invests €17.5 billion in SME efficiency: an opportunity for Croatia

The European Investment Bank (EIB) Group committed in mid-September to allocate €17.5 billion to support improvements in energy efficiency in over 350,000 European small and medium-sized enterprises (SMEs).

– The initiative for energy efficiency in small and medium-sized enterprises, led by the EIB Group and supported by the European Commission, is designed to help SMEs that utilize proven energy-saving technologies reduce their electricity bills and increase resilience and competitiveness. By committing to allocate €17.5 billion, the EIB Group will nearly double the current level of support from 2025 to 2027 – it was emphasized in a statement from this EU credit institution directly owned by member states.

Who offers what

According to the announcement, the support will be directed towards measures that SMEs invest in energy efficiency and decarbonization, based on a combination of existing and new financial products, including debt and equity instruments, with the initiative’s goal being to stimulate investments totaling over €65 billion by 2027. Therefore, despite some fears earlier this year that the so-called green agenda had come to an end due to Donald Trump’s return to the global stage, energy efficiency remains an important topic for the European Union, and thus for Croatia.

At the national level, the key player for financing energy efficiency is the Environmental Protection and Energy Efficiency Fund (FZOEU). It regularly announces public calls for co-financing energy renovations of family homes, multi-apartment buildings, and public buildings, as well as projects in industry and tourism. Depending on the program, incentives can range from 40% to 80% of the investment value and most often relate to facade insulation, window replacement, installation of heat pumps, solar collectors, or photovoltaic systems.

– The Environmental Protection and Energy Efficiency Fund has continued this year to strongly promote the green transition of various sectors by announcing a series of public calls aimed at local units, companies, craftsmen, and citizens. The goal is clear: more efficient energy use, reduction of greenhouse gas emissions, and strengthening Croatia’s energy independence – they stated from the Fund.

Current calls

The largest part of this year’s Fund budget, around €54.4 million, is directed towards increasing energy efficiency and production from renewable energy sources. Such investments reduce electricity costs, increase energy security, and contribute to the decarbonization of the national energy sector.

– Citizens currently have access to two calls for co-financing the installation of photovoltaic power plants installed and put into operation during 2024 and 2025. For the call published in June, which pertains to power plants from 2025, more than 5,100 applications were received. Due to exceptional interest, it was temporarily closed, but in October it was reopened thanks to an increase in the budget from €10 million to over €20 million. The call worth €7.5 million also allows co-financing for citizens who have already invested their own funds in solar power plants during 2024 – they noted from the Fund.

Entrepreneurs, they add, had access this year to a call for energy-efficient vehicles worth €21.2 million, and the number of applications received shows great interest from the business sector in sustainable mobility. Funds for e-mobility will also be available under the call from the Ministry of Environment and Green Transition, specifically for companies or crafts registered for road freight transport or taxi services. They will have access to €45 million from the Modernization Fund for energy-efficient vehicles.

It is not surprising that there is great interest in the programs of the Environmental Protection and Energy Efficiency Fund, as they not only offer all ecological benefits but also shorten the payback periods for investments and contribute to long-term savings.

– From our previous practice, we see that the most common mistakes relate to the submission of mandatory documentation, so we constantly emphasize the importance of timely and complete preparation of applications. We have also established a call center that answers inquiries from interested parties daily via phone and electronically. We are pleased that applicants are becoming increasingly familiar with our programs, which is reflected in the growing success rate and successful implementation of approved projects – they said at the Fund, adding that they are satisfied with the interest in their programs and plan to continue supporting everyone who plans investments in energy efficiency measures or the use of renewable energy sources in their households or businesses in the coming years.

Support is also provided by HAMAG-BICRO, and there is no shortage of funds at the local level. The city of Slavonski Brod, for example, offers a high percentage of co-financing, up to 80% of the investment, but only for the preparation of the main electrical project for the solar power plant, as well as support for applications to the Energy Efficiency Fund’s calls. Istria County and cities in Istria also co-finance up to 50% of costs, and support is offered in the capital city and other major Croatian cities as well.

Favorable loans

Finally, although the state call from FZOEU is the most well-known and generous, local and regional calls provide an excellent opportunity for additional co-financing and easier implementation of solar power plants.

In addition, it should not be forgotten that funds are also provided by the Croatian Bank for Reconstruction and Development (HBOR), which has announced criteria for a new Energy Efficiency Financing Program for entrepreneurs so that entrepreneurs and craftsmen can timely prepare their projects and documentation before the program becomes operational at the beginning of 2026.

– The program will enable entrepreneurs, or craftsmen of all sizes and forms of ownership registered for production, commercial, or service activities, to access favorable loans with the possibility of capital rebates. Eligible investments include increasing energy efficiency and installing equipment for the use of renewable energy sources – they stated from HBOR.

Thus, there is still money for energy efficiency and there will be more; one just needs to follow the calls and ensure all necessary documentation. Even if you do not know what is required, there are institutions that answer all questions.