OREANDA-NEWS. December 17, 2007. Today, MDM Bank announced it had issued the first loan under its MDM Energy program. The borrower, Yekaterinburg-based Ecological Resource, received a long-term loan amounting to RUB 4.7 mln for the purchase of a more energy-efficient production line. MDM Energy is a joint program by MDM Bank and IFC (International Finance Corporation) launched in November 2007 to encourage investment in energy conservation.

MDM Energy offers SMEs both long-term, targeted financing as well as independent consultations by technical experts working with MDM Bank. The consultants help estimate the potential for, and impact of, energy conservation at a given business, recommend technical solutions (if required) and conduct energy audits.

Andrey Kuznetsov, Head of Small Business Lending at MDM Bank, noted: "In November IFC conducted training seminars for 50 MDM Bank professionals from each of the cities where the Bank works. The training participants now assist SME owners to increase their companies efficiency by reducing energy consumption."