15 July 2015

  • GGF
  • End-Borrower Stories
  • Bosnia and Herzegovina

Warming Up

Adis Čičikovića
Adis Čičikovića

Enhancing quality of life and lowering costs

Partner Microcredit Foundation (Partner MCF) has been working with the Green for Growth Fund, Southeast Europe (GGF) since 2012 to serve low-income households in Bosnia and Herzegovina, a segment with little access to credit. Partner MCF’s particular focus is on funding micro and small enterprises and improving living conditions. The latter involves using the GGF credit line for home energy efficiency (EE) projects – specifically, to upgrade heating systems and insulation to stand up to the harsh Bosnian winters.

Adis Čičikovića, a 28-year old lumberjack whose income also supports his parents and three siblings, had such a project in mind. The Čičikovićas live in Rijeka, a village high up in the mountains where winter temperatures can be severe. For a long time their home, with its aging walls and worn-out windows, lacked proper insulation.

Adis heard about the favorable terms Partner MCF provided for EE projects, and took out a loan of approximately EUR 1,000 to install insulation and replace four windows in the rooms where the family spends most of its time. The difference in terms of heat retention was noticeable almost instantly. Adis saved a lot of money by doing all the work himself, but the best news came when he ordered firewood for the following winter: wood consumption had dropped by half.

Once this first loan is repaid after the 18 months maturity, Adis plans to take out another with Partner MCF to replace the remaining windows and finish insulating the façade. His story demonstrates how partnering with different types of financial institutions helps the GGF maximize outreach.


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