The EBRD has revealed that the bank s Board of Directors is likely to clear the loan proposal on 25th of this month.
DemirBank will use the new funds to support energy efficiency projects to be undertaken by individuals and legal establishments in the country.
"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 medium-and long-term financing," stated a report.
The loan forms a component of the EBRD "Caucasus Energy Efficiency Program" (CEEP) on the energy efficiency in the Caucasus region. The bank had launched this scheme in
In an earlier statement, the Head of EBRD's
The EBRD official added, "All of these measures are part of the new strategy of EBRD in
The EBRD holds stake in the three Azerbaijani banks of DemirBank, AccessBank and
The EBRD has delivered funds of around
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