The facility will allow Demirbank to help local entrepreneurs and households to acquire and install more efficient equipment, appliances and materials, such as modern production facilities, double-glazed windows, insulation, gas boilers, solar water heaters and rooftop solar panels. The funds will also help these clients to reduce their energy bills and make their businesses and homes more cost-efficient.
The loan is part of the EBRD's Caucasus Energy Efficiency Programme (CEEP), which provides loans to local partner institutions for financing industrial and residential energy efficiency improvements, promoting energy savings and helping to reduce greenhouse gas emissions.
The loan is also supported by grant funding of
In addition, the EBRD has engaged consultants to support banks, firms and households with technical advice for energy-saving investments. This support enables industrial clients and homeowners to make the transition from under-performing, low-quality equipment and materials, towards investment in better-performing, more efficient products that will deliver greater benefits throughout their lifetime.
The EBRD's Head of Office in
Demirbank, established in 1989, is a universal bank ranked 13th in
The EBRD has been active in
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