The bank will direct the allocated funds for lending to individuals and legal entities wishing to invest in improve energy efficiency. The EBRD Board of Directors is expected to approve the allocation of funds in
"The project will contribute to strengthening the customer base of Demirbank and allow the bank to continue to compete successfully in the local market by providing customers with new products and offers of medium-and long-term financing," the report said.
The loan is part of the EBRD program on the energy efficiency in the Caucasus region- "Caucasus Energy Efficiency Program" (CEEP), which started in July, 2007.
Demirbank became the first of the three banks in the country, which, as previously EBRD`s
All of these measures are the part of the new strategy of EBRD`s activity in
EBRD is a shareholder of the three banks in
Since 1991, the EBRD has allocated about
Edited by CN
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