ProCredit Bank to Support Investments in Energy Efficiency
OREANDA-NEWS. June 26, 2012. According to the press service of the company, ProCredit Bank and European Bank for Reconstruction and Development (EBRD) have signed an agreement on financing of energy efficiency projects from MoSEFF 2 credit line funds.
Any eligible entrepreneur, engaged in industry, agriculture, service rendering, transportation, catering or viticulture can apply in the nearest ProCredit Bank branch, to develop energy efficient projects.
All eligible projects fitting requirements passes a free of charge technical check, carried out by a team of international and local technical experts, who determine actual situation of the business. The Bank shall establish the loan amount, depending on results of the technical check. Loans for the purpose of financing energy efficiency and renewable energy projects start at several thousand EUR.
Term and interest rate of the loan are established depending on project’s type and duration Each loan includes a portion of grant accounting to 5% - 20% of total project value, according to used technology and extent to which energy consumption and CO2 emissions were reduced. Grant’s value is calculated by a team of technical experts and is subsequently offered by EBRD.
ProCredit Bank is an international bank and is 100% foreign owned, with shareholders exclusively from Germany and The Netherlands: ProCredit Holding, Germany (82.89%), KfW, Germany (12.3%) and DOEN Foundation, The Netherlands (4.81%). The bank is a member of the international ProCredit group of banks, operating in 21 countries of Eastern Europe, Latin America and Africa.