Baku, Azerbaijan, July 1
By Aygun Badalova -Trend:
Kyrgyz Investment and Credit Bank (KICB) has signed an agreement with the European Bank for Reconstruction and Development (EBRD) on providing $5 million worth of loan within the Kyrgyz Sustainable Energy Financing Facility (KyrSEFF) program, Kabar news agency reported on July 1.
In 2013 KICB received $3 million as part of the first credit line within the KyrSEFF program. Given the success of this project and the strong demand from the borrowers, KICB submitted an application to the EBRD for new financing within KyrSEFF.
"The second credit line on KyrSEFF program shows the commitment of KICB to promote energy efficiency initiatives in Kyrgyzstan," KICB chairman Kwang Young Choi said.
The agreement with the EBRD will enable KICB to continue the program of providing loans and grants KICB's customers in order to improve energy efficiency of buildings, commercial objects and energy infrastructure.