• Our products
  • Trend Media Service
  • News terminal

Media service

  • Trend Media Service

For clients

  • How to subscribe
  • Instant paid access
  • Support service

Ads placement

  • Banner platforms on the website

Company

  • About company
  • Vacancies

Communications

  • Reference
  • Achievements

Trend in social networks

  • Facebook
  • Twitter
  • Youtube
  • Telegram
  • RSS
  • IOS
  • Android

Our services

  • Trend News Terminal
  • Trend Daily News
  • Caspian Oil & Gas Trend’s
  • Monthly Azerbaijan Business Monitoring
  • Weekly Azerbaijan Business Monitorings
  • Caspian, Turkey Building & Logistics Monitoring
  • Azerbaijan Energy Projects Review
  • Trend Banking Analytics
  • Iran Energy Economy Review
  • Central Asia Economic Business Monitoring
  • Weekly Tenders Report
  • Azerbaijan non-oil Review
  • Azerbaijan Monthly IСT Monitoring
  • Regional Finances

Media

  • Trend Politics
  • Trend Society
  • Trend Economy
  • Trend Energy
  • Trend ICT
  • Trend Tourism
  • Trend Culture

Contacts

  • Bakhtiyar Vahabzade Str., 14, Baku, Azerbaijan, AZ1141.
  • sales@trend.az
  • + 994 12 437-12-68
ORDER TRIAL VERSION
  • RU
  • AZ
  • EN
  • TR
  • FA
  • Login
  • Sign up
Trend.Az
  • Latest
  • Azerbaijan
    • Politics
    • Business
    • Nagorno-Karabakh conflict
    • Society
    • Other News
  • Business
    • Oil&Gas
    • ICT
    • Economy news
    • Tenders
    • Tourism
  • Iran
    • Nuclear Program
    • Politics
    • Business
    • Society
  • Central Asia
    • Kyrgyzstan
    • Kazakhstan
    • Turkmenistan
    • Tajikistan
    • Uzbekistan
  • South Caucasus
    • Armenia
    • Georgia
  • World
    • Turkey
    • Europe
    • US
    • Russia
    • Israel
    • China
    • Arab World
    • Other News
  • Analysis
  • Latest
  • Azerbaijan
    • Politics
    • Business
    • Nagorno-Karabakh conflict
    • Society
    • Other News
  • Business
    • Oil&Gas
    • ICT
    • Economy news
    • Tenders
    • Tourism
  • Iran
    • Nuclear Program
    • Politics
    • Business
    • Society
  • Central Asia
    • Kyrgyzstan
    • Kazakhstan
    • Turkmenistan
    • Tajikistan
    • Uzbekistan
  • South Caucasus
    • Armenia
    • Georgia
  • World
    • Turkey
    • Europe
    • US
    • Russia
    • Israel
    • China
    • Arab World
    • Other News
  • Analysis
  • Trend Photo
  • Home
  • Business
  • Economy news

EBRD lends $ 5 mln to Azerbaijani Demirbank for energy efficiency projects

1 September 2014 16:15 (UTC+04:00)
  • 0
  • 0

Baku, Azerbaijan, Sept. 1

By Farid Rzayev - Trend:

The European Bank for Reconstruction and Development (EBRD) is lending $ 5 million to Demirbank to finance energy efficiency projects in Azerbaijan.

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, DemirBank said Sept. 1.

"Due to its large oil and natural gas resources and subsidised energy tariffs, Azerbaijan has a very low penetration rate of energy efficient technologies in its production facilities and residential sector," the EBRD's Head of Office in Baku, Neil McKain, said. "This means that there is a wide range of energy efficiency opportunities in which the local financial sector and the EBRD have a crucial role to play. We are delighted to support Demirbank to further boost investment in renewable energy and energy efficiency in the country."

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 programme is supported by grant funding of €9.2 million, comprising €4.6 million from the European Union Neighbourhood Investment Facility (EU NIF) and €4.6 million from the Austrian Federal Ministry of Finance, to be used for technical assistance and investment incentives for households, EBRD said.

Demirbank, established in 1989, is a universal bank ranked 13th in Azerbaijan in terms of total assets. With 32 branches across the country, it offers a wide range of banking services to micro, small and medium-sized firms as well as offering retail banking facilities to
private clients.

The EBRD has been active in Azerbaijan since the country's independence.

To date the Bank has invested in 146 projects with over US$ 2.5 billion across various sectors of the Azerbaijani economy. One of the EBRD's priorities in the country is to support the growth of the non-oil private sector by investing in dynamic small and medium-sized enterprises.

Follow Trend on Telegram. Only most interesting and important news

  • Tags:
  • Demirbank
  • EBRD
Azernews Newspaper
Related news
Southern Gas Corridor CJSC reveals amount withdrawn from EBRD loan
Oil&Gas 20 April 15:57
EBRD, EU launch Regional Small Business Program in Tajikistan
Economy news 19 April 18:20
EBRD supports Tajikistan’s energy project
Economy news 14 April 13:49
EBRD increases its portfolio in Azerbaijan
Economy news 9 April 15:59
EBRD participates in Kazakhstan’s key sectors (Exclusive)
Economy news 6 April 00:12
EBRD supports renewable energy projects in Kazakhstan (Exclusive)
Economy news 4 April 17:13
EBRD announces date of holding consultation on TAP project
Oil&Gas 4 April 11:52
EBRD eyes extending mandate in Greece to 2025 to spur growth
Europe 27 March 16:41
EBRD to introduce Uzbekistan strategy in Summer 2018
Economy news 19 March 11:35
German Economy Ministry talks on loan guarantee for Southern Gas Corridor (Exclusive)
Oil&Gas 10 March 09:38
EBRD, EU launch new business program in Uzbekistan
Uzbekistan 1 March 14:18
EBRD to support capacity building of Azerbaijan’s energy regulator (Exclusive)
Economy news 1 March 08:02
EBRD forecasts Kazakhstan’s economic growth in 2018
Economy news 27 February 16:24
Southern Gas Corridor CJSC withdraws 70% of EBRD loan
Oil&Gas 27 February 15:17
Kazakhstan seeks to attract EBRD funds for gas pipeline project
Oil&Gas 27 February 11:49
EBRD to finance project connecting SGC with Western Europe
Oil&Gas 26 February 14:11
EBRD invests in Turkish bank's bonds
Economy news 21 February 09:36
EBRD expects inflation rate to decrease in Azerbaijan
Economy news 20 February 16:47
Most popular
Turkey ready to consider creation of joint FEZ with Azerbaijan <span class="color_red">(Exclusive)</span>
Turkey ready to consider creation of joint FEZ with Azerbaijan (Exclusive)
Former US President George H.W. Bush moved from intensive care
Iranian airliners to purchase 40 Russian-made super jets
Macron: Trump will exit Iran nuclear deal in may
Commentary
Trump’s possible withdrawal from nuclear deal would damage EU <span class="color_red"> – expert</span>

Trump’s possible withdrawal from nuclear deal would damage EU – expert

Sargsyan should stand int'l tribunal for his crimes: MP
Sargsyan must answer to international tribunal: expert
The “Armenian genocide” – still stuck in Wonderland
Trend.Az
  • About
  • Our Team
  • Our products
  • Trend Media Service
  • Info Service
  • News archive
Contacts
14, Bakhtiyar Vahabzade, Baku, Azerbaijan, AZ1141
+(994 12) 497-31-72
news@trend.az
+(994 12) 497-30-89
© 2018 Trend News Agency
Terms of use
  • counter