EBRD provides Georgian bank with loan to finance energy efficient projects
Tbilisi, Georgia, Oct.11
By Nana Kirtzkhalia - Trend:
The European Bank for Reconstruction and Development (EBRD) provided the 'Republic' bank with a loan worth $10 million to finance energy efficient projects in Georgia.
The funds will be used to finance business entities of the private sector, as well as physical entities, the bank told Trend.
The purpose of the loan is to assist and encourage the companies and families to use energy resources better.
The credit line contains an investment subsidy and technical assistance, funded by the Council of Europe and the Ministry of Finance of Austria. A package of technical assistance includes rendering the consulting services to the companies and energy audits, as well as assistance to the bank participating in the implementation of the projects (training and marketing).
The companies can get a loan for energy efficient and renewable energy projects, to conduct energy audits at no cost, to receive a preferential interest rate and additionally receive 10-15 percent of the loan as a present.
They can be also consulted by local and foreign experts.
The physical entities are entitled to install energy-saving devices at home, to create comfort and to reduce energy consumption. They will get an additional subsidy of 10 percent of the loan as a present.