News Column

CEEP - Demirbank Azerbaijan

June 7, 2014

Project Status : Active Project Location : Azerbaijan Country : Azerbaijan Project number: 45856 Business sector: Depository Credit Banks Public/Private: Private Environmental category: FI Target Board date: 25 June 2014 Status: Passed final review, Pending board approval PSD disclosed : 21 May 2014 Project Description : An energy efficiency loan to finance sub-loans to eligible corporates and individuals for business and residential energy efficiency investments. The project will strengthen Demirbank s customer base and will allow the bank to continue to compete successfully in the local banking sector by providing new products and offering medium and long-term financing to its customers. Transition Impact : The loan will generate transition impact by demonstrating the benefits of energy conservation and promoting the early adoption of sustainable energy financing. The transaction will contribute to the introduction of a new energy efficiency financing product to the local market and will support investments in the residential, industrial and commercial sector. The Client : Open Joint Stock Company Demirbank, a private commercial bank in Azerbaijan, majority-owned by private individuals. EBRD Finance : The loan will be provided under the EBRD Caucasus Energy Efficiency Programme. Project Cost : USD 5 million. Environmental Impact : Categorised FI. Demirbank is an existing client of the Bank and has attended an environmental and social risk management training workshop organised by the Bank in 2010. Demirbank implements environmental and social procedures and is compliant with the Environmental and Social Exclusion List. Demirbank will need to ensure continuous compliance with the PRs2 and 9 and provide ongoing E&S training to all new staff, especially in regional branches, to ensure consistency of the environmental and social due diligence and monitoring process throughout the entire portfolio. Technical Cooperation : The energy efficiency loan will benefit from TC and incentives to end-borrowers available under the CEEP framework provided by the Austrian Ministry of Finance and EU Neighbourhood Investment Facility. Company Contact : Aytan Gulusoy, Director International Relations Department Tel: +994 (12) 444 71 23 Business opportunities :For business opportunities or procurement, contact the client company. General enquiries : EBRD project enquiries not related to procurement: Tel: +44 20 7338 7168; Fax: +44 20 7338 7380 Email: Public Information Policy (PIP) : The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Project Complaint Mechanism (PCM) : The EBRD has established the Project Complaint Mechanism (PCM) to provide an opportunity for an independent review of complaints from one or more individuals or from organisations concerning projects financed by

Project completion date : 2015-05-31 12:00:00

Major organization : DEMIRBANK

Address : Kharabagh 31 Baku, AZ1008 Azerbaijan Website : Contact : Aytan Gulusoy, Director International Relations Department

Country :Azerbaijan

Financier : European Bank for Reconstruction and Development (EBRD),

Financier address : Financier: European Bank for Reconstruction and Development (EBRD) One Exchange Square London EC2A 2JN United Kingdom Website :

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Source: TendersInfo (India)