Azerbaijan, Baku, March 7 / Trend A. Akhundov /
Azerbaijani AccessBank started implementing the first project on energy efficiency in the country. On Thursday, the bank signed an agreement with the European Bank for Reconstruction and Development (EBRD) to get a loan worth $ 4.2 million which will be aimed at the reconstruction of the head office of the bank with the total area of 9840 square metres.
The EBRD loan will cover 30 per cent of the project cost and the remainder will be paid by the bank. After reconstruction AccessBank will provide its employees at head office in Azerbaijan with the first 'green offices' with low power consumption. This system saves energy by 42 per cent more than previous systems.
The loan is part of the EBRD's Caucasus Energy Efficiency Programme (CEEP) in the Caucasus region which was launched in July 2007. The loans are delivered to local partner banks for investments in energy efficiency within the programme in Azerbaijan.
At present, the bank has signed 135 investment agreements worth more than 1.52 billion euro in the various sectors of the Azerbaijani economy. Investing in renewable energy and energy efficiency sectors is a priority for the EBRD in Azerbaijan. The EBRD approved 15 projects with a total value of 81 million euro in Azerbaijan in 2012.