Translated version of this PSD: Azerbaijani
An energy efficiency loan to finance sub-loans to eligible corporates and individuals for business and residential energy efficiency investments. The project will strengthen Demirbank’s customer base and will allow the bank to continue to compete successfully in the local banking sector by providing new products and offering medium and long-term financing to its customers.
The loan will generate transition impact by demonstrating the benefits of energy conservation and promoting the early adoption of sustainable energy financing. The transaction will contribute to the introduction of a new energy efficiency financing product to the local market and will support investments in the residential, industrial and commercial sector.
Open Joint Stock Company Demirbank, a private commercial bank in Azerbaijan, majority-owned by private individuals.
The loan will be provided under the EBRD Caucasus Energy Efficiency Programme.
USD 5 million.
Categorised FI. Demirbank is an existing client of the Bank and has attended an environmental and social risk management training workshop organised by the Bank in 2010. Demirbank implements environmental and social procedures and is compliant with the Environmental and Social Exclusion List. Demirbank will need to ensure continuous compliance with the PRs2 and 9 and provide ongoing E&S training to all new staff, especially in regional branches, to ensure consistency of the environmental and social due diligence and monitoring process throughout the entire portfolio.
The energy efficiency loan will benefit from TC and incentives to end-borrowers available under the CEEP framework provided by the Austrian Ministry of Finance and EU Neighbourhood Investment Facility.
Aytan Gulusoy, Director International Relations Department
Tel: +994 (12) 444 71 23
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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