Project description
and objectives:
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The EBRD is considering:
Energy Efficiency line of up to USD 5 million under the Caucasus Energy Efficiency Programme. The Energy Efficiency line will be used for on-lending to private sector industrial entities to finance projects aimed to improve energy use in those entities.
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Transition impact:
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The Energy Efficiency project will demonstrate the benefits of energy efficiency investments in terms of cost reductions through the expansion of energy efficiency lending in Georgia. It will demonstrate the effects of rational energy utilisation for improving industrial competitiveness in light of the dependency on imported oil and gas and rising energy costs in the region. The project is also expected to transfer and build expertise, among banks and companies, related to energy efficiency.
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The client:
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Bank Republic is a subsidiary of Societe Generale, one of the leading financial services companies in Europe. It is a universal commercial bank, ranking fourth in Georgia by total assets (USD 316 million as of 31 December 2007).
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EBRD finance:
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Energy Efficiency line of USD 5 million.
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Total project cost:
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USD 65 million.
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Environmental impact:
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Screened FI. Bank Republic has recently developed and adopted its own Risk Management Procedure, which also covers management of environmental risks. After the inclusion in EBRD’s partner banks list the bank undertook implementation of EBRD’s Environmental Procedures, including compliance with the FI Environmental Exclusion and Referral Lists. In January 2006 and February 2008 Bank Republic staff participated in the Environmental and Social Risk Management training programme organised by the Bank’s Environment and Sustainability Department. Bank Republic complies with all national health, safety and environmental standards as well as with national employment laws and standards. Bank Republic will also comply with relevant Environmental Procedures within respective EBRD transactions and submit an Annual Environmental Report to EBRD.
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Technical
cooperation:
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The Energy Efficiency credit line will be complemented by grant funding to engage consultants in order to prepare energy audits, review investment proposals, support companies in securing funding from BR and provide implementation support. The budget for the framework assignment is USD 2,398,000 funded by ETC, UK- DFID SEI Fund and CIDE-EBRD 2006/09 Fund.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Giorgi Kerkadze, IFI Relationship Manager
Bank Republic
2 Gr. Abashidze St,
0179 Tbilisi, Georgia
Telephone: +995 32 925555
E-mail: Giorgi.Kerkadze@republic.ge
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EBRD contact:
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Madina Sakbaeva, Operation Leader: sakbaevm@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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